Terra digital currency evader Do Kwon travelled to Serbia last month


Interpol fugitive Kwon Do-Hyung, who is sought for interrogation in connection with the $40 billion collapse of his cryptocurrency scheme, travelled to the Republic of Serbia last month, according to South Korean prosecutors, corroborating claims from local media.

Prosecutor Choi Sung-kook of the Seoul Southern District Prosecutors’ Office said that it had not been established whether or not the former CEO of Singapore-based cryptocurrency startup Terraform Labs Pte. is still in Serbia.

Choi said that the Ministry of Justice of South Korea has requested investigation help from the Serbian government, corroborating a Yonhap report.

Last month, Kwon, a South Korean citizen commonly known as Do Kwon, had his passport revoked as part of attempts to identify and extradite him to South Korea, where he faces various allegations, including fraud and violation of the Capital Markets Act.

Interpol has issued a “red alert” for Kwon, which requests that he be located and temporarily arrested by law enforcement agencies worldwide. It is thought that he departed Singapore in September, flew to Dubai, and subsequently proceeded to Serbia.

Since the collapse of the Terra-Luna stablecoin in May, which caused losses to hundreds of thousands of South Korean and international investors, South Korean authorities have been investigating Kwon, Terraform Labs, and several of its former workers.

As Kwon is believed to be on the run to dodge the investigation, the Seoul Southern District Prosecutor’s Office has suspended the statute of limitations on his criminal accusations.

Kwon has consistently asserted that he is not “on the run” and is willing to communicate with the police, but he has said that he would not divulge his whereabouts due to worries for his safety. He has also claimed that the probe is driven by politics.

The authorities have also sought an arrest warrant for Shin Hyun-sung, also known as Daniel Shin, the founder of Terraform Labs. The last motion was denied by a Seoul court earlier this month, citing Shin’s cooperation with the inquiry and lack of flight danger.

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