Fugitive CEO of Terraform Labs Located In Serbia Report Claims: Do Kwon Alleges SBF Responsible For Collapse of UST Coin


A recent report claims that Do Kwon, the fugitive CEO of Terraform Labs, is currently residing in Serbia. The report adds that the South Korean government has reached out to the Serbian government in order to investigate the claims. At the same time, Kwon has indicted Sam Bankman-Fried and Alameda Research of orchestrating the events that caused the UST Coin to crash.

Do Kwon Finding Sanctuary in Serbia

According to the South Korean online publication Chosun, Do Kwon, the CEO of Terraform Labs and wanted by investors for providing false information, is living in Serbia. The report added that the Ministry of Justice in Seoul is seeking the assistance of the Serbian government in order to investigate the claims.

Authorities may also be interested in the possibility that Kwon is being aided by someone in Serbia.

The latest news about Kwon’s whereabouts comes just months after reports that he was in Singapore. However, these reports were later retracted by the Singapore Police, who promised to help the Korean National Police Agency (KNPA) “within the scope of our national law and international obligations.”

Kwon Accuses Sam Bankman-Fried of UST Depeg

In his December 7 Twitter thread, Kwon seems to suggest that Alameda Research and Sam Bankman-Fried were the ones responsible for the attack that eventually caused the collapse of the UST stablecoin.

“I think the time has come for Genesis Trading to reveal if they provided the $1B UST shortly before the SBF collapse [Sam Bankman-Fried] o Alameda: LFG purchase was represented as stemming from ‘interest in participating in the Terra Defi ecosystem’, not to provide ammunition for a peg attack,” Kwon wrote.

Kwon also noted that Alameda was borrowing BTC from Voyager during the period he was referring to. After being met with argument against his case by Sam Bankman-Fried and Alameda Research, Kwon concluded the thread with “what is done in the dark will come to light.”

This story has tags

Alameda Research, Do Kwon, Genesis Trading, Interpol Red Notice, Korean National Police Agency (KNPA), Law Enforcement, Sam Bankman-Fried, Singapore Police Force, Terraform Labs, UST depeg, Voyager

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Terence Zimwara

Terence Zimwara is an award-winning journalist and author from Zimbabwe. He has written extensively on the economic difficulties encountered by some African countries and how digital currencies can help people escape from certain countries.

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