South Korean Authorities Say That Terra (LUNA) Founder Do Kwon Hiding in Serbia: Report

South Korean authorities reportedly believe that Terra (LUNA) founder Do Kwon is trying to evade global law enforcement by relocating to Serbia.

According to a new BBC report, the Seoul Southern District Prosecutors’ Office plans to collaborate with Serbian authorities to detain Kwon, the controversial figure behind the $40 billion collapse of LUNA and its algorithmic stablecoin TerraUSD (UST).

Kwon faces fraud charges and violations of capital markets law.

In September, Interpol issued a red notice for Kwon to have law enforcement worldwide locate and arrest the embattled crypto entrepreneur, after South Korean authorities had put out an arrest warrant for the Terra founder.

Kwon has previously denied he was hiding from authorities, although he never disclosed his location. Kwon reportedly visited Singapore, where his company Terraform Labs was headquartered, in late April just before LUNA collapsed in May, but was not thought to have been there as of October.

In an interview, Kwon blamed himself for the collapse of the Terra ecosystem.

“Whatever issues existed in Terra’s design, its weakness [in responding] to the cruelty of the markets, it’s my responsibility and my responsibility alone.”

Per the BBC report, South Korea and Serbia do not have an official extradition treaty, but there is precedence for the two to honor requests under the European Convention on Extradition.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/J. Waleson Photo