If we are to believe the South Korean authorities, Terra (LUNA) founder Do Kwon is currently hiding in Serbia. South Korea has now requested Serbia to extradite Do Kwon so that it can try him fairly in its own country. With Terra, Do Kwon has been responsible for inflating billions of dollars in wealth and for that reason South Korea is not just letting it go.
Do Kwon is in Serbia
If we have a reporting from Chosun Media of December 11, the South Korean authorities have been able to confirm that Do Kwon is hiding in Serbia. “We recently received a tip that Terra CEO Do Kwon is in Serbia and we now know that this is indeed true,” a South Korean official told Chosun Media.
The South Korean Ministry of Finance also indicates that it is trying to convince Serbia to extradite Do Kwon. Since the collapse of Terra, the authorities have been chasing after Do Kwon, but until recently without much success.
Just before the fall of Terra, towards the end of April, Do Kwon is said to have already fled to Singapore. The official arrest warrant was finally issued on September 14.
Shortly after the arrest warrant, Interpol issued a so-called “Red Notice” against Do Kwon on September 26. This means that authorities around the world will in principle have the power to arrest him should they find him.
No extradition treaty with Serbia
Although South Korea has an extradition treaty with 31 countries, Serbia is not one of them. South Korea, however, is in a multilateral treaty with the Council of Europe, of which Serbia is a part.
However, Do Kwon insists that he is not on the run and that he is not trying to hide. In that respect, it is strange that he is not just in South Korea. If he has nothing to worry about and is indeed not on the run, then why is he in Serbia?
In any case, it would not be a good thing for the crypto industry if Do Kwon was arrested and given a fair trial. That would make it clear that it is not possible to set up fraudulent projects with impunity, because unfortunately the industry is full of them to this day.