Terraform Labs Founder Do Kwon May Be Hidden in Serbia

Reading time: < 1 minute

Terraform Labs CEO Do Kwon has reportedly flown to Serbia, according to a statement of the Prosecutor’s Office of South Korea.

However, according the department, there is little evidence he is still in this jurisdiction. The Korean authorities have requested assistance in the investigation from Serbia’s authorities.

It is important to remember that the collapse of the Terra ecosystem affected the solvency of a long list of industry players, including Celsius and Three Arrows Capital. The depreciation of the coin LUNA and the algostablecoin UST also caused significant damage to Anchor Protocol users.

The situation around the project has attracted the attention of South Korean regulators. As a result, the Seoul Southern District Prosecutor’s Office also became interested in the activities of the company.