Home 2023 The Hunt of Crypto Fugitive: Do Kwon

The Hunt of Crypto Fugitive: Do Kwon

According to the source, a South Korean officials flew to Serbia last week to seek assistance in the hunt for crypto fugitive Do Kwon.

The prosecutor’s office in Seoul confirmed Tuesday that rumors that one of its team members visited the Balkan country with a top Justice Ministry official “aren’t false.”

Serbia emerged in December as a possible location for crypto fugitive Kwon, the fallen 31-year-old entrepreneur facing prosecution in his own country of South Korea for the $60 billion erasure of digital assets he built.

TerraUSD stablecoin was created by Kwon, which was intended to maintain a constant $1 value using a combination of algorithms and trading incentives involving a sister currency, Luna. The structure collapsed in May 2022, aggravating a $2 trillion crypto-market crash, and leading to the demise of several digital-asset firms.

Kwon’s whereabouts became unknown after police issued an arrest order for him in September last year on suspicion of violating capital-markets rules. South Korea has revoked his passport and informed Interpol that Kwon is the subject of a red alert.

After a week-long absence that fueled curiosity about his location, Kwon reappeared on Twitter on the 1st of February 2023. He stated on Twitter that he has “taken no money and has never had secret cash outs.'” As he previously denied any misconduct.

On Tuesday, the prosecutors’ office and the Justice Ministry declined to comment on Kwon’s exact whereabouts.

In 2022, officials revealed that Kwon had travelled to Dubai as a stopover on his way out of Singapore, where his Terraform Labs enterprise had a base.

To speak to a professional on Cryptocurrency, contact KXCO.IO

More News from Live Trading News

Biggest Crypto Theft in 2022: North Korea

Will Crypto Ads be in the Seper Bowl this year?

8 Cryptocurrencies that are set to Explode in 2023

Top Cryptocurrency Trading Platforms to watch in February 2023

Oxford PhD student convicted for defrauding $2.6 million in cryptocurrency investors

Previous article8 Cryptocurrencies that are set to Explode in 2023
Next articleAre North Korea Funding Nuclear Program With Cypto Hacking