South Korean prosecutors have said they received intelligence that the fugitive co-founder of Terraform, Do Kwon, who has since disappeared from the public eye after Terra’s collapse, is currently residing in Serbia.

“Recently, we obtained intelligence that CEO Kwon was in Serbia, and it was found to be true,” the precisely noted on Monday.

Korean Authorities are Asking the Serbian Gov’t to Cooperate in Terra’s Investigation

According to reports, Kwon has at least changed locations twice after the collapse of the Terra ecosystem. Before the incident happened, Kwon moved to Singapore. From there, he reportedly moved to Dubai in October and then to his current location in Serbia. The prosecutors believe these were all an effort to avoid investigation.

Following the collapse of Terraform, which saw over $40 billion wiped from the market, the Seoul Southern District Prosecutor issued made an arrest warrant for Kwon on charges of presenting false information to investors. The International Criminal Police Organisation, or Interpol, joined the investigation, issuing a red notice for the Terra CEO in September.

With Kwon’s location now confirmed, South Korean authorities are currently in the process of requesting the cooperation of the Serbian government in the case, according to the report. Additionally, the authorities are investigating whether the crypto fugitive had a special helper there in Serbia.

Kwon Turned to Twitter to Debunk Claims, But Never Disclosed his Location

While Kwon refused to disclose his location, he remained active on Twitter, debunking accusations and media reports about him. On September 17, Kwon said he was not “on the run” as Korean authorities had claimed. He added that they are in full cooperation and didn’t have anything to hide.

More recently, Kwon made a Twitter thread, saying the collapse of Terra’s cryptocurrencies, Luna and UST, resulted from a coordinated attack, possibly by SBF and his trading company, Alameda Research.

(By Ibiam Wayas)