Latest Newsletter🍵 New alcohol/cancer study in AsiansRead


S. Korean prosecutors confirm team traveled to Serbia in hunt for crypto fugitive Do Kwon

Do Kwon
via Coinage

    Asian America Daily - in under 5 minutes

    Get our collection of Asian America's most essential stories, to your inbox daily, for free!

    Unsure? Check out our Newsletter Archive

    The hunt for the co-founder of defunct cryptocurrencies Luna and TerraUSD (UST), Do Kwon, continues as South Korean prosecutors confirmed a team recently traveled to Serbia to ask for help.

    The Balkan nation came up in several reports in December as the place where Kwon, whose real name is Kwon Do-hyung, 31, might be hiding.

    Seoul’s prosecutor’s office reportedly confirmed on Tuesday that a team of South Korean officials, including a senior Justice Ministry official, traveled to Serbia last week to seek aid from the Balkan country’s government.

    While South Korea does not have an extradition treaty with Serbia, both countries are reportedly part of the 1957 multilateral treaty European Convention on Extradition, which South Korea joined in 2011.

    Despite being in hiding, which Kwon had denied in a series of tweets last year after Interpol issued a red notice for him, the defunct cryptocurrency co-founder has been active on Twitter.

    In October 2022, Kwon slammed reports from South Korea that claimed prosecutors had frozen his cryptocurrency assets worth around $39.9 million.

    Kwon’s latest tweet was on Feb. 1, in which he replied to the founder of a crypto asset investment firm to defend himself against allegations that he stole money.

    I find that Twitter is a good place for rumors but poor place to get facts,” Kwon wrote. “I’ve stolen no money and never had ‘secret cashouts’ – happy to address specific allegations. In any case, good day to you.”

    Support our Journalism with a Contribution

    Many people might not know this, but despite our large and loyal following which we are immensely grateful for, NextShark is still a small bootstrapped startup that runs on no outside funding or loans.

    Everything you see today is built on the backs of warriors who have sacrificed opportunities to help give Asians all over the world a bigger voice.

    However, we still face many trials and tribulations in our industry, from figuring out the most sustainable business model for independent media companies to facing the current COVID-19 pandemic decimating advertising revenues across the board.

    We hope you consider making a contribution so we can continue to provide you with quality content that informs, educates and inspires the Asian community. Even a $1 contribution goes a long way.  Thank you for everyone's support. We love you all and can't appreciate you guys enough.

    Support NextShark

    Mastercard, Visa, Amex, Discover, Paypal