S. Korean Prosecutors Fly To Serbia To Get Do Kwon

GM Readers!📪 It's BitDegree Insider, and let's rev it up.

⭐️Today's selection:

• 🕵South Korean Prosecutors Arrive in Serbia for Do Kwon
• 💭Wednesday Bubbles
• 👌Selected Meme of The Day
• 📰Bite-Sized News

SOUTH KOREAN PROSECUTORS AFTER DO KWON

The man behind the collapsed Terra Luna project, the notorious Do Kwon, has been acting in a quite audacious way.

His attitude sounded like something along the lines of 'come and get me'. Well, it looks like this is what the authorities are about to do.

South Korean prosecutors flew to Serbia to detain and deport the infamous bigmouth. It's believed that Do Kwon is hiding in this country.

They added that Serbia was ready to "actively participate" in the investigation. Do Kwon is accused of fraud related to the collapse of the Terra-Luna project and $40 billion in losses.

The fugitive crypto-businessman fled his home in Singapore late last year after Interpol issued a "red notice" for his arrest. Kwon denies all allegations and says the case is politically motivated.

So, as it was reported, the South Korean prosecutors had a productive meeting with Serbian authorities. They agreed on cooperating on the case.

The South Korean team included two key officials.

The first was Deng Sung-han, director of financial and securities crimes at the Seoul South District Prosecutor's Office.

And the second was Lee Ji-hyun, director of the Justice Ministry's international criminal affairs division.

"Usually such requests are made in paper correspondence between authorities. But the Terra case is very sensitive and attracts a lot of public attention. If the Serbian authorities are willing to actively help the process, Kwon's extradition will happen in the near future," lawyer Hwang Suk-jin commented on the news.

TL;DR: South Korean authorities arrived in Serbia to accelerate the hunt for Do Kwon, who is believed to be hiding in this country.

WEDNESDAY BUBBLES

One more week has passed by. Let's see what coins are the gainers, and what are the losers. 

As previously, some of the names might make you raise your eyebrows. Worry no more, we'll explain what you are looking at.

IMX + ILV (ImmutableX & iIluvium partnership).

illuvium is a collectible P2E (Play-to-earn) role-playing NFT game and an auto battle in one package.

Its gameplay consists of traveling, fighting powerful enemies, capturing them, so they could fight in an arena, or simply selling them.

One of the features of the game is the blockchain on which it is built, namely Immutable X.

Lately, a lot of games are going for Layer2 solutions (such as IMX) because of the small commissions, and the ability to have access to the same features as on Ethereum.

illuvium has announced the upcoming launch of illuvium: Beyond, an interactive and competitive card game in which users will compete to collect the strongest NFT avatars illuvitars.

The project has entered into respective partnerships with Binance, Immutable X and Chainlink for the successful launch of the game, which is set for March 7.

Chainlink will integrate price streams to price $siLV2 token to $ETH. Immutable X will provide free and secure transactions.

So, as you can see, they've got plenty of thing goin on. That's the reason behind the token's growth.

P.S. Before jumping on a P2E game, you better make sure you DYOR, and get to know the tokenomics of a game like this.

Better to remain cautious, and not jump on the bandwagon just because it sounds nice! Take it slow, be rational, no one's opening that door for FOMO.

Another gainer is SAND (Sandbox).

What happened in the sand castle is the fact that Sandbox announced partnership with the Saudi Arabian Digital Government Authority (DGA).

Both parties have signed what is known as a memorandum of understanding (MoU). An official paper that describes the general idea of the agreement they've agreed upon.

The MoU is considered to be the first binding document in this type of transaction. Often, it means that the signatory will have exclusive rights to develop the new market, while also providing all the necessary technical infrastructure to do so.

Details of this agreement are not yet available, but in any case it is a major step for The Sandbox.

It should be noted that Saudi Arabia is not lagging behind its 'neighbour' - the UAE when it comes to the development of Web3.

Moreover, the country may well compete with the Emirates in the struggle for the status of the largest regional hub, but in the long term.

So SAND, the platform's native token, has responded to the news about Saudi Arabia by surging, as can be seen in the bubble.

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• SBF's Lawyers Appeal the Decision to Reveal the Names of $250M Bond Co-Signers. An expensive secret.
• Federal Judge Denies Motion Allowing Sam Bankman-Fried to Use Messaging Apps. Y'all won't be able to slide into SBF's DMS.
• Dubai's Crypto Regulator Shares Guidelines for Virtual Asset Service Providers. It's dangerous out there... Take these guidelines.