- The Korean Broadcasting System reported right now that Do Kwon, CEO of Terraform Labs, is residing in Europe.
- Kwon beforehand fled Singapore and South Korea and is needed in reference to Terra’s collapse.
- It’s unclear whether or not prosecutors know Kwon’s exact location and are capable of perform an arrest.
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Do Kwon, CEO of the failed stablecoin firm Terraform Labs, is reportedly residing in Europe.
Do Kwon Is Seemingly in Europe
In keeping with Korean state media, Do Kwon’s location has been partially found.
On November 3, the Korean Broadcasting System (KBS) said that it’s “understood that [Kwon] is presently in Europe.” It added that Kwon beforehand moved to a 3rd nation—which was additionally situated in Europe—by way of Dubai.
Kwon at one level resided in South Korea however later moved to Singapore at an unknown date. He then fled to Singapore in September after TerraUSD’s collapse. Kwon’s location was nonetheless unknown as just lately as October 19.
KBS stated that South Korean officers have now invalidated Kwon’s passport in accordance with earlier efforts. It famous that, with an invalid passport, Kwon “can not journey legally between international locations” and subsequently may be thought of an unlawful immigrant in any location he resides.
Although Kwon’s nation of residence has apparently been situated, it’s unclear whether or not regulation enforcement is aware of Kwon’s exact location or is ready to carry out an arrest. Interpol issued a red notice to find and arrest Kwon on September 25, which means that he’s now needed in most international locations.
Prosecutors in South Korea have issued varied fees towards Kwon together with fraud and tax evasion. KBS’ report right now means that these prosecutors have obtained proof that Kwon’s therapy of TerraUSD constituted market manipulation.
KBS seemingly obtained its info instantly from the Seoul Southern District Prosecutor’s Workplace, although that workplace has not made a public assertion elsewhere.
Crypto Briefing contacted Do Kwon with a request for remark however didn’t obtain a response by press time.
Disclosure: On the time of writing, the creator of this piece owned BTC, ETH, and different digital belongings.