Digital Asset has confirmed the address of a luxury apartment in Serbia where Terraform Labs (TFL) founder and CEO Do Kwon and former Chai Corporation CEO Chang Joon Han likely resided. The apartment is registered to Han.
On Apr. 10, Digital Asset confirmed that an apartment in the Savski Venac municipality of the Serbian capital of Belgrade (Sime Lozanica 10, Unit 8) is registered to Han according to Serbia's electronic real estate register.
Luxury two-floor apartment
A translation of the Serbian real estate registry reveals that the apartment (Unit 8) where Kwon and Han resided was a two-floor unit on the third floor of the building, occupying around 404 square meters.
Kwon and Han also owned two 12 square meter parking spaces attached to the property, bringing their property to a total of 428 square meters.
The registration of two parking spaces implies that both Han and Kwon owned a car while in Serbia.
The official register tied to the property is three pages long. The first is the apartment, and the remaining two are the parking spaces.
Apartment valued at $2 million
Digital Asset began investigating the apartment after receiving an anonymous tip from overseas on Apr. 10, at 4:18 am.
The subject of the email sent by the anonymous source was, "Owner-lux apartment in Belgrade CHANG JOON HAN (DO KWON)."
The source also indicated that the apartment in question is valued at $2 million. Additionally, the email included the name and contact information of the real estate agency that brokered the sale of the apartment.
Information provided by Serbian authorities indicates that the IP address and social network accounts linked to Kwon match the address of the apartment. Authorities used this information in an investigation with the intention of arresting him.
Before Serbian authorities could arrest him, however, Kwon and Han migrated to Montenegro, where they were arrested on Mar. 23 at Podgorica Airport while trying to board a flight to Dubai.
Serbia's electronic real estate register
The site of the digital real estate register provided by the anonymous tip isn't accessible to users in South Korea, so Digital Asset had to use a VPN (a virtual private network) to bypass this restriction.
Savski Venac, where the apartment is located, is one of Belgrade's 17 municipalities. It's a quiet neighborhood and home to several high-end properties.
A search on Google Maps reveals that the building was erected in 2015, and comprises five floors, including a basement floor.
The real estate register pertaining to the property was updated on Apr. 7, meaning Han remains the owner despite his arrest in Montenegro on Mar. 23.