Terra’s Do Kwon is in Europe after fleeing Singapore: report
Key points to remember
- The Korean Broadcasting System reported today that Do Kwon, CEO of Terraform Labs, resides in Europe.
- Kwon has previously fled Singapore and South Korea and is wanted in connection with Terra’s collapse.
- It is unclear whether prosecutors know Kwon’s specific location and are able to make an arrest.
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Do Kwon, CEO of bankrupt stablecoin firm Terraform Labs, is believed to reside in Europe.
Do Kwon is probably in Europe
According to Korean state media, Do Kwon’s location has been partially discovered.
On November 3, the Korea Broadcasting System (KBS) said it was “understood that [Kwon] is currently in Europe. He added that Kwon had previously moved to a third country, also located in Europe, via Dubai.
Kwon once resided in South Korea, but later moved to Singapore at an unknown date. He then fled to Singapore in September after TerraUSD collapsed. Kwon’s location was still unknown as recently as October 19.
KBS said South Korean officials have now invalidated Kwon’s passport in line with earlier efforts. He noted that with an invalid passport, Kwon “cannot legally travel between countries” and therefore may be considered an illegal immigrant wherever he resides.
Although Kwon’s country of residence has apparently been pinpointed, it is unclear whether law enforcement knows Kwon’s specific location or is in a position to make an arrest. Interpol issued a Red Notice to locate and arrest Kwon on September 25, meaning he is now wanted in most countries.
South Korean prosecutors have issued various charges against Kwon, including fraud and tax evasion. The KBS report today suggests that these prosecutors obtained evidence that Kwon’s handling of TerraUSD constituted market manipulation.
KBS apparently obtained its information directly from the Seoul Southern District Attorney’s Office, although that office has not made a public statement elsewhere.
Crypto Briefing reached out to Do Kwon with a request for comment but did not receive a response by press time.
Disclosure: At the time of writing this article, the author of this article owned BTC, ETH, and other digital assets.