In November, the CEO of Terraform Labs (TFL), Do Kwon, flew to Serbia. Forkast reports, citing a statement from the South Korean prosecutor’s office.
The agency noted that there was no evidence that he remains in that jurisdiction. Korean authorities have sought assistance in the investigation from their counterparts in Serbia.
The collapse of the Terra ecosystem affected the solvency of major players in the industry, including the crypto-lending platform Celsius and the hedge fund Three Arrows Capital. The devaluation of LUNA and the algorithmic stablecoin UST also inflicted substantial damage on users of Anchor Protocol.
The situation around the project drew the attention regulators in South Korea. The activities of TFL attracted the attention of the Southern District of Seoul Prosecutors’ Office. In September, the court issued an arrest warrant for Do Kwon and five others.
The head of TFL said that he was not on the run and was cooperating with law enforcement. In September, Bloomberg reported that Interpol had issued a red notice for the arrest of Do Kwon.
In October, the CEO of TFL again stated that he was not on the run, but refused to disclose his location. He added that he had not seen an arrest warrant against him, and that all information had come from the media.
Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analytics.