Ex-TMON CEO Gets Arrest Warrant for Allegedly Taking Bribes from LUNA (Report)

South Korean authorities have reportedly issued an arrest warrant for the former CEO of e-commerce giant TMON.

He allegedly took bribes to Terra (LUNA) worth billions of won to promote the infamous blockchain project.

Terra continues to splash the water

As mentionted from a local media outlet, a former boss of Korean e-commerce company TMON has been served with an arrest warrant over his interaction with the defunct cryptocurrency project Terraform Labs. Prosecutors accused him of taking bribes in the form of LUNA coupons to advertise the failed project’s products.

Additionally, Daniel Shin – Co-founder of Terraform Labs and co-creator of TMON – reportedly asked the former CEO to introduce LUNA as a payment method on the platform.

Investigators believe the potential perpetrator made substantial profits after cashing out the accepted digital assets. The arrest warrant will be reviewed on February 17.

The collapse of Terra’s native token – LUNA – and its algorithmic stablecoin – UST – in May of last year is still reverberating throughout the cryptocurrency space. It caused serious investor losses and some people killed themselves.

The main culprit (according to many) – Do Kwon – was unwilling to cooperate with law enforcement in the matter and fled his homeland. His whereabouts are still unknown, with sources previously saying he could be hiding in Dubai, Russia and Mauritius.

Has Kwon found refuge in Serbia?

Despite promising to reveal its mysterious location, the Terra Co-Founder has yet to provide such information. The latest sources he hinted His current hiding place could be the Balkan country of Serbia. Korean authorities asked their Serbian counterparts to provide assistance in case Kwon was still in the area.

In addition, Interpol has was issued a red alert for the 31-year-old developer, meaning law enforcement agents around the world should join forces and arrest him if they locate him.

A delegation of Korean authorities, led by a senior Justice Ministry official, traveled to Serbia earlier this month to join the hunt for Kwon. The prosecutor’s office in Seoul said reports that he was hiding in the European nation were “not false”.

Kwon has kept a low profile in recent months, which could be another sign that he is trying to escape the long arm of the law. He stopped posting on Twitter as his last tweet appeared more than two months ago.

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