South Korean delegation went to Serbia to detain Do Kwon
2023.02.08 09:11
South Korean delegation went to Serbia to detain Do Kwon
By Tiffany Smith
Budrigannews.com – South Korean officials have reportedly confirmed that they sent at least two individuals to Serbia to locate Do Kwon, the controversial founder of the now-defunct Terra ecosystem.
The prosecutor’s office in Seoul stated in a Bloomberg report on February 7 that the reports regarding members of its team traveling to the Balkan state to locate Kwon “aren’t false.”
At least two state officials, one from the prosecutor’s office and the other from South Korea’s Justice Ministry, appear to have gone.
On December 11, a publication with headquarters in South Korea, Chosun Media, reported that a state intelligence official informed them that Kwon had established himself in Serbia.
There is no extradition agreement between Serbia and South Korea at this time.
According to a recent opinion piece written by Minso Kim, a writer for the South Korean publication Chosun Media, this probably made Serbia a great place for Kwon to hide out.
However, Kwon has lost his passport, which may make future travel more challenging.
Since South Korean prosecutors issued an arrest warrant for Kwon on September 14, he has been accused of being on the run, which he denied in October.
Additionally, the defunct 31-year-old entrepreneur has been accused of violating capital markets regulations.
Even though Kwon is known for being a prolific tweeter, he didn’t tweet or retweet a single post for nearly two months, leading some to wonder what the controversial figure has been up to.
However, in a recent response to a provocative tweet directed at him, Kwon stated that he has never had any “secret cashouts” and that he has never stolen any money.
Twitter is a good place for rumors, but not for facts.
I’ve never had “secret cashouts” and haven’t stolen any money. I’m happy to address specific allegations.
In any case, good day to you.
Kwon says he did nothing wrong.
The de-peg of TerraClassicUSD (USTC), an algorithmic stablecoin, was one factor that contributed to the ecosystem’s demise. The stablecoin and Terra Classic (LUNC) were closely linked, with both falling close to 100 percent.
The ecosystem lost approximately $60 billion worth of value.
