Do Kwon Encashed $120,000 Worth Bitcoins in Serbia

• Do Kwon cashes out $9.64 Bitcoins in Serbia. 
• The South Korean government confirms Kwon is hiding in Serbia. 

As an important case in the market, the location of  Do Kwon, the founder of Terraform Labs remains hidden from the crash of the entire Terra network. The South Korean government was taking out so many initiatives to find his whereabouts. In light of this case, Kwon cashes out a notable amount of $9.64 Bitcoins in Serbia. 

While the South Korean law enforcement was still locating Kwon, he had arrived in Serbia. In addition, as proof he transferred $120,000 worth BTC’s from the Luna Foundation Guard (LFG) wallet to Binance through the relay wallet. As a result, the government of South Korea now knows that Kwon resides in Serbia.

Now, being in a state to return the passport to the government else it will be canceled, how was it possible for Kown to fly to Serbia adds curiosity to this case.

 Do Kwon found located in Serbia

Significantly the demise of the Terra ecosystem back in May, created a huge buzz in the crypto space. Besides investors and users losing thousands of their assets, the founder of Terrafarm Labs, Kwon is still continuing his run. For almost half of 2022, South Korean Authorities are still behind Kwon for many legal issues. 

However, it is proven that Kwon exchanged $9.64 BTC from the Luna Foundation Guard to spend his living in Serbia. Moreover, Serbia is a country which entertains cryptocurrencies and withdrawals of these assets are super easy.  Thus, Kwon chose to fly to Serbia to continue his survival in another country. 

Though Kwon is being investigated for his allegations of fraud activities during the crash of Terra LUNA, the South Korean government is still monitoring Kwon. Earlier this month, it was confirmed that Kwon is hiding from the eyes of South Korea authorities and living in Serbia.