Do Kwon, a South Korean entrepreneur and former CEO of Terraform Labs, has reportedly created a new company in Serbia while on the run from Interpol. Kwon is wanted in South Korea on charges of fraud and embezzlement.
According to reports, Kwon has been living in Europe for several months and is wanted by South Korean authorities for his alleged involvement in a scheme that defrauded investors of millions of dollars. Kwon has denied the allegations and has claimed that he is being targeted for political reasons.
Kwon’s new company, called “LUNA,” is based in the Serbian capital of Belgrade and is focused on the development of decentralized finance (DeFi) applications. Kwon has reportedly been working on the project with a team of developers based in Serbia and other parts of Europe.
Despite his legal troubles, Kwon has remained active in the blockchain and cryptocurrency communities. He has been a vocal advocate for decentralized finance and has been involved in several high-profile projects in the space.
Kwon’s new company, LUNA, has already gained some attention in the DeFi community. The project is focused on creating a decentralized exchange (DEX) that will allow users to trade a wide range of cryptocurrencies without relying on a centralized authority.
The project is still in its early stages, but Kwon has said that he hopes to launch the DEX later this year. He has also said that the project will be completely decentralized, with no central authority controlling the platform.
Kwon’s legal troubles have not gone unnoticed in the cryptocurrency community. Some have criticized him for fleeing South Korea and continuing to work on cryptocurrency projects while on the run from Interpol. Others have defended him, arguing that he is innocent until proven guilty and that he should be allowed to continue working on innovative projects in the DeFi space.
The creation of LUNA comes at a time of increasing interest in decentralized finance and blockchain technology. The DeFi space has seen explosive growth over the past year, with billions of dollars in value locked in DeFi protocols and applications.
Despite the challenges that Kwon and his team may face in the coming months, the creation of LUNA is a sign that the DeFi space is continuing to attract talented entrepreneurs and developers from around the world. With the potential to disrupt traditional finance and create new opportunities for financial inclusion, DeFi is likely to remain an important area of innovation in the years to come.
