The co-founder of the Terra ecosystem (LUNA) has been saying for several months that he is not on the run, despite appearances. But that could soon end: South Korean authorities say Do Kwon is hiding in Serbia, and that they are actively working with local authorities.
Terraform Labs CEO on the run
The CEO of Terraform Labs, historically very provocative, has been saying since the fall of the Terra ecosystem that he is not on the run… but still refuses to reveal his whereabouts. Last September, he claimed to be “in full cooperation” with the authorities:
I am not “on the run” or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide
– Do Kwon (@stablekwon) September 17, 2022
“I’m not ‘on the run’ or anything like that […] we have nothing to hide. “
Still, South Korean authorities have communicated several times that they are looking to get their hands on Terra’s creator, and Interpol has added Do Kwon to its “red list” of actively wanted fugitives. His passport was also invalidated, to prevent him from fleeing. But this was not enough. In November, however, Kwon said he would propose a conference to “put an end to this fugitive rumour crap”, to which law enforcement agencies from around the world would be invited.
Do Kwon hiding in Serbia
A conference that we are still waiting for, but not the South Korean authorities, it seems. The latter claim that Do Kwon is in Serbia, according to a report by local media Chosun. An official in charge of the investigation said:
“We had recently obtained information that CEO Kwon was in Serbia, and it turned out to be true. “
The CEO of Terra Labs is said to have visited the country after briefly passing through Dubai. In any case, this coincides with recent reports: in November, a South Korean media outlet claimed that Do Kwon was in Europe.
The man clearly seems to find it difficult to avoid the spotlight. He made an appearance at an impromptu live event at the time of FTX’s collapse, which included Zhu Su, the co-founder of Three Arrows Capital (3AC).
Will he be arrested soon? That’s the question on everyone’s mind, as the Terra case and the FTX case now seem more intertwined than originally thought.
