Do Kwon continue to evade the spotlight, with South Korean authorities now believing he’s in Serbia.
South Korean authorities followed a tip-off concerning Do Kwon’s whereabouts suggesting he is now in Serbia and has been able to confirm it. South Korea’s Ministry of Finance is in the process of requesting cooperation from the Serbian government as part of the investigation.
South Korean authorities have been on the hunt for Do Kwon since Terra’s collapse, but haven’t seemed to have had much luck pinpointing his location until now. The 31-year-old was understood to have moved to Singapore toward the end of April, just before the Terra ecosystem’s shock collapse.
The Seoul Southern District Prosecutor’s Office’s Financial and Securities Criminal Unit issued an arrest warrant against Kwon for allegedly violating South Korean capital markets laws. Around that time, authorities in Singapore confirmed that Kwon was no longer in the country, and was understood to have flown to Dubai in transit to a new unknown destination.
If Do Kwon turns out to be in Serbia, it remains to be seen what, if any, legal strings can be pulled from South Korea to try to extradite the Terraform Labs founder.
While South Korea has entered into a bilateral extradition treaty with 31 countries, Serbia is not among them. However, South Korea has also entered into a much broader multilateral extradition treaty with the Council of Europe, to which Serbia is a signatory.