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Seoul – A delegation of South Korean officials traveled to Serbia last week to seek help in the hunt for cryptocurrency fugitive Do Kwon.

Seoul’s public prosecutor’s office said Tuesday that reports that one of its teams had visited the Balkans with senior Justice Department officials were “not false.”

Serbia in December Potential location of Kwon, The fallen 31-year-old entrepreneur has been charged in his native South Korea. US$60 billion (SG$79.5 billion) wipeout of the digital assets he created

Kwon developed the TerraUSD stablecoin. This was intended to have a constant value of his US$1 by combining algorithms and incentives for traders, including sister token Luna. The building exploded in his May 2022, exacerbating the US$2 trillion cryptocurrency market crash and contributing to the downfall of various digital asset companies.

Kwon’s whereabouts were unknown after an official investigation last September issued a warrant for his arrest For allegations involving violations of capital market laws. South Korea stripped him of his passport and said Kwon was subject to Interpol’s red notice.

Officials indicated last year that Kwon likely flew to Dubai as a stopover to an unknown destination after leaving Singapore, home of the Terraform Labs project.

He resurfaced on Twitter a few days ago after a weeks-long absence that sparked speculation about his whereabouts. Never mind,” he tweeted. He had previously denied any wrongdoing.

Prosecutors and the Justice Ministry declined to comment Tuesday on Kwon’s exact location.Bloomberg Search for crypto fugitive Do-kwon sent South Korean officials to Serbia last week

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