Weeks After “Red Notice,” Do Kwon Opened a Firm in Serbia

Do Kwon established a company just weeks after Interpol issued a “Red Notice” for the Terraform Labs co-founder.

Terraform Labs co-founder Do Kwon has reportedly created a Serbian company for less than $1.

According to official records from the Serbian Business Registry obtained by DLNews, South Korean national Do Kwon established “Codokoj22 d.o.o. Beograd” in October 2022. The company was registered for 100 Serbian dinars or $0.92.

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The documents show that the company provides consultancy services. Interestingly, this development took place just a few weeks after Kwon was rumored to be issued an Interpol “Red Notice.”

Based on the report, Do Kwon was the only owner of the company. However, he received help from Chai Corporation CEO Han Chang-Joon, who was named as co-director of the newly-founded firm.

On top of that, DLNews information suggests that Do Kwon and Han Chang-Joon used their Korean passports to register the company. The Serbian Business Registry shows that the company is still operational.

To legalize the company and represent him, Do Kwon allegedly hired a Serbian law firm, Gecic Law. When asked about the situation with Kwon, a partner at Gecic Law, Ognjen Colic said the law firm followed typical security checks, including an Interpol website search. However, according to Colic, Kwon was not included in the Interpol list.

He is not on there ­— you can check it yourself now.

It is worth noting that the news about Interpol issuing a “Red Notice” for Do Kwon broke at the end of September 2022. However, to this day, this information is not registered on the official Interpol website.

The hunt for Terraform Labs co-founder lasted for more than six months. However, on March 23rd, it came to an end as authorities in Montenegro arrested Do Kwon at Podgorica airport.

The man was allegedly carrying “falsified documents” from his trip to Costa Rica. It is believed that the Terraform Labs co-founder will continue to be detained in Montenegro, at least until the end of April, as the court extended his detention by 30 days.

by Gile K. – Crypto Analyst, BitDegree