• Do Kwon, co-founder of Terraform Labs, reportedly established a company in Serbia for just $1 and listed its main business activity as consultancy services.
• The company was allegedly established weeks after an Interpol “red notice” was issued for Kwon’s arrest.
• Last week, both Kwon and Han were arrested in Montenegro after allegedly using forged Costa Rican travel documents.

Do Kwon Establishes Company in Serbia

Terraform Labs co-founder Do Kwon reportedly registered a company in Serbia for less than $1 amid an Interpol red notice being issued for his arrest. According to documents from the Serbian Business Registry, the company called “Codokoj22 d.o.o. Beograd” was opened in October 2022 with its main business activity listed as consultancy services.

Interpol Red Notice

Kwon allegedly used his Korean passport to register the company which is still reportedly in operation with the Serbian Business Registry. A DLNews report states that he also contracted a Serbian law firm Gecic Law to represent him, however upon checking Interpol’s website no information related to Kwon could be found despite previous reports stating a red notice had been issued for his arrest.

Arrested In Montenegro

Last week both Kwon and Han Chang-Joon (former CEO of Chai Corporation) were arrested in Montenegro after allegedly using forged Costa Rican travel documents which carries a maximum imprisonment sentence of three years under the Criminal Code of Montenegro. A legal representative of Kwon confirmed that he would appeal the court’s decision to extend detention time for up to 30 days.

Charged With Fraud In US

On March 23 United States prosecutors announced that Do Kwan has been charged with fraud by New York court too.


Do Kwan has been facing multiple troubles since last few weeks due to which he is now being charged with fraud by two different countries i-e the US and Montenegro . He has also been flagged by Interpol and currently waiting for his trial dates upon which justice will prevail regarding his case .

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