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Terra’s Do Kwon Is in Europe After Fleeing Singapore: Report

According to a report from the Korean Broadcasting System, the CEO of the failed crypto company Terraform Labs has been partially located.

Terra’s Do Kwon Is in Europe After Fleeing Singapore: Report
Photo: Coinage

Key Takeaways

  • The Korean Broadcasting System reported today that Do Kwon, CEO of Terraform Labs, is residing in Europe.
  • Kwon previously fled Singapore and South Korea and is wanted in connection with Terra's collapse.
  • It is unclear whether prosecutors know Kwon's precise location and are able to carry out an arrest.

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Do Kwon, CEO of the failed stablecoin company Terraform Labs, is reportedly residing in Europe.

Do Kwon Is Likely in Europe

According to Korean state media, Do Kwon’s location has been partially discovered.

On November 3, the Korean Broadcasting System (KBS) said that it is “understood that [Kwon] is currently in Europe.” It added that Kwon previously moved to a third country—which was also located in Europe—via Dubai.

Kwon at one point resided in South Korea but later moved to Singapore at an unknown date. He then fled to Singapore in September after TerraUSD’s collapse. Kwon’s location was still unknown as recently as October 19.

KBS said that South Korean officials have now invalidated Kwon’s passport in accordance with earlier efforts. It noted that, with an invalid passport, Kwon “cannot travel legally between countries” and therefore can be considered an illegal immigrant in any location he resides.

Though Kwon’s country of residence has apparently been located, it is unclear whether law enforcement knows Kwon’s precise location or is able to perform an arrest. Interpol issued a red notice to locate and arrest Kwon on September 25, meaning that he is now wanted in most countries.

Prosecutors in South Korea have issued various charges against Kwon including fraud and tax evasion. KBS’ report today suggests that those prosecutors have obtained evidence that Kwon’s treatment of TerraUSD constituted market manipulation.

KBS seemingly obtained its information directly from the Seoul Southern District Prosecutor’s Office, though that office has not made a public statement elsewhere.

Crypto Briefing contacted Do Kwon with a request for comment but did not receive a response by press time.

Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other digital assets.

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