Do Kwon established a cryptocurrency company in Serbia, and prosecutors are investigating whether the company was used for money laundering

ChainCatcher news reports that the Serbian Office of the Tech Criminal Prosecutor and the U.S. Attorney's Office have revealed that Terraform Labs CEO Do Kwon and Chai Corporation's former CEO Shin Hyun-seung (also known as Daniel Shin), who fled together, have established a company related to cryptocurrency business in Serbia.

It is reported that the prosecution is confirming whether Do Kwon set up the legal entity to officially conduct virtual asset business in Serbia or to establish a shell company for money laundering and other purposes. (source link)