Since Kwon is believed to be in Serbia, South Korea asked Serbian authorities to cooperate in the investigation.

Founder Terra Do Kwon is believed to be in Serbia and South Korean authorities quickly approached his arrest.

Do Kwon's current whereabouts remain a topic of extreme interest to the cryptocurrency community, especially since the South Korean Court decided to issue an arrest warrant for him, accompanied by a red warrant issued by Interpol shortly thereafter.

However, despite being quite "calm" about the incident and constantly appearing at many interviews with claims that he did not run away from the warrant, Do Kwon still did not "say half a word" about where he lives now. According to multiple sources in October 2022, he has left Singapore for Dubai "as a refugee".

But until December 12, 2022, things may not stop at the lion island nation. According to South Korea's Chosun newspaper, Do Kwon is currently believed to be in Serbia, a landlocked country in southeastern Europe.

As soon as this information is verified, the South Korean Ministry of Justice is asking the Serbian government to cooperate in the investigation that seeks to arrest Do Kwon on charges of providing false information to investors about the Terra collapse.

Terra founder Do Kwon is currently based in Serbia, and the South Korean MOJ is asking the Serbian government to cooperate in the investigation. South Korea seeks Do Kwon's arrest on charges of providing false information to investors. According to chosun https://t.co/EhVuDLsTU1

— Wu Blockchain (@WuBlockchain) December 12, 2022

However, this is the latest development in the suffocating chase between Do Kwon and South Korea, which has been extremely complicated and has changed continuously over the past three months, although the circumstances of the case have not yet had a final knot. Because Kwon is quite "cavalier" with his daily life, despite the South Korean authorities' efforts to find all options to arrest him.

In a related development, Do Kwon's "close friend", Terraform Labs co-founder Daniel Shin, has been dismissed by a South Korean court despite repeated attempts by prosecutors in the country to force Daniel Shin into custody.