Do Kwon, a disgraced tycoon behind the collapse of the TerraUSD and Luna coins that roiled the crypto assets market in May, is hiding in Serbia, according to South Korean prosecutors who are seeking to take him into custody
Kwon, a South Korean national, had made his way from Singapore, where he was living while running the blockchain platform Terraform Labs, to Dubai and finally to Serbia, a spokesperson for the Seoul Southern District Prosecutors’ Office told CNN on Tuesday. The office became aware that Kwon was in Serbia in November and was tracking him, according to the spokesperson, adding that it was seeking assistance from the Serbian government to arrest and extradite him.
” The crypto developer has repeatedly claimed on Twitter that he was not “on the run,” but refused to disclose his whereabouts due to worries about his personal security. Terraform Labs was behind the TerraUSD “stablecoin,” which in theory was meant to retain a $1 price point, and its sister coin Luna. Both coins lost much of their value in a matter of days in May, wiping tens of billions of dollars in value from the crypto market and setting off panic across the speculative sector.
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