Do Kwon, a co-founder of the now-defunct Terra ecosystem, is believed to be in Serbia, according to South Korean authorities. South Korean media has stated that Kwon left Singapore for Serbia, via Dubai.

The South Korean Ministry of Justice is seeking cooperation from the Serbian government with regards to extradition proceedings.

It is notable that South Korea and Serbia have not established an extradition treaty, however, both countries are party to the European Convention on Extradition.

Kwon’s passport has been made invalid, making his journey very difficult. Prosecutors have suggested that Kwon is evading the investigation, an accusation which he has denied.

Consequently, an arrest warrant has been issued and Interpol has issued a red notice in search of Kwon.