A group of Serbian lawyers has been exposed for allegedly helping Do Kwon, the founder of Terraform Labs, set up a new company in Serbia after he was placed on an Interpol Red Notice. The lawyers are accused of violating Serbian law by assisting Kwon, who was wanted by South Korean authorities on charges of embezzlement.

The case highlights the potential risks and challenges of doing business in the cryptocurrency industry, particularly in jurisdictions with weak regulatory oversight or high levels of corruption. The case also highlights the importance of compliance with regulatory requirements and the need for due diligence when entering into business relationships with third parties.

The case is part of a broader trend towards increased regulatory scrutiny of the cryptocurrency industry, as regulators seek to address concerns about fraud, money laundering, and other forms of financial crime. As the industry continues to grow and mature, there is likely to be increased focus on compliance and regulatory oversight, which could have significant implications for the industry going forward.

(by Samuel Wan)