South Korean Prosecutors Reveal Terra Co-founder Do Kwon is in Europe: The Hunt Continues
The saga surrounding Terraform Labs co-founder Do Kwon takes another turn as South Korean prosecutors state that he is currently in Europe. This revelation comes amidst the ongoing legal battle between Do Kwon and South Korean prosecutors, intensifying efforts to bring him to justice.
Recent reports suggest Kwon’s movements since the collapse of Terra, with some South Korean media outlets initially indicating he was in Serbia. Now, prosecutors have expanded the search to the broader European continent, following leads on his whereabouts. SEOUL - Terraform Labs founder Do Kwon is in Serbia, South Korean prosecutors said on Monday, as they seek his arrest on charges including fraud and market manipulation.
The charges against Kwon are significant, including fraud and market manipulation. As the legal battle between Do Kwon and South Korean prosecutors continues, the prosecutors stated that the CEO of Terraform Labs Do Kwon transferred some funds, allegedly illicitly gained, before the Terra collapse. This adds another layer to the complex web of accusations and investigations.
The impact of the Terra collapse has been widespread, affecting countless investors and shaking confidence in the cryptocurrency market. South Korea’s Seoul Southern District Court will hold the first trial on May 26 for Terra co-founder Daniel Shin and seven others indicted with multiple charges including violations of capital market law. This trial is separate from Kwon's extradition but underscores the severity of the legal repercussions facing figures associated with Terraform Labs.
Adding to the complexities, Prosecutors in South Korea have obtained new evidence suggesting that Terraform Labs co-founder Do Kwon, who was arrested in Montenegro last year for defrauding investors, may have attempted to hide assets and influence potential witnesses. The pursuit of Do Kwon remains a top priority for South Korean authorities, who are committed to holding him accountable for his actions.
Stay updated as we continue to follow this developing story and its implications for the future of cryptocurrency regulation.