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HomeCryptoTerra Founder Do Kwon Cashes Out Bitcoins in Serbia

Terra Founder Do Kwon Cashes Out Bitcoins in Serbia

On-chain information reveals that Terraform Labs founder Do Kwon cashed out 9.64 Bitcoins ($120,000) from the Luna Basis Guard (LFG) after not too long ago coming into Serbia, in response to a South Korean cryptocurrency media outlet.

It’s value noting that Serbia is a rustic with no extradition treaty with South Korea.

Bitcoin ATM machines are put in in locations reminiscent of Belgrade the place Bitcoin may be exchanged for {dollars}. In keeping with information offered by CoinATMRadar, there are two cryptocurrency kiosks in Belgrade.

The cryptocurrency market felt shockwaves again in Might when TerraUSD and Luna crashed to zero, with billions of {dollars} value of digital property evaporating just about in a single day. The South Korean fugitive has since been fleeing to totally different nations.

In September, a South Korean courtroom issued an order for Kwon’s arrest amid allegations of fraud from Terraform Labs’ traders. The Seoul Southern District Prosecutors’ Workplace has since been monitoring the disgraced cryptocurrency entrepreneur for months. Earlier this month, it was confirmed that Kwon was hiding in Serbia after leaving Dubai in October.

On the identical time, Kwon continues to disclaim working away from justice as he stays energetic on social media. In October, Kwon stated that he believed the fees leveled towards him have been politically motivated.

CoinsTeacher

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