2022-12-29
Terra Collapse
The collapse of a cryptocurrency platform Terra, has led the South Korean
police to investigate and issue an arrest warning to its founder Do Kwon. Major
problem was algorithmic stablecoin UST was depegged from 1-to-1 US dollar peg.
Currently, South Korean police has cooperated with Interpol to find Do Kwon.
Do Kwon Escape
According to The Seoul
Southern District Prosecutor's office, said that Do Kwon was in Serbia.
He left South Korea and headed to Singapore in April 2022. Later he went to
Dubai in October 2022. There is a clue
that Do Kwon is hiding in Serbia. Serbia has no extradition treaty with South
Korea.
Do Kwon Cashes Out Bitcoins
Do Kwon cashes out 9.64 bitcoins worth $120,000 from Luna Foundation
Guard in Serbia. He might cash out bitcoins somewhere from a Bitcoin ATM in
Serbia. A transaction of
9.64 BTC from the Luna Foundation Guard (LFG) wallet to Binance wallet happened
on November 8, 2022.
