May 30, 2023

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Terra's Do Kwon set to lose passport weeks after Interpol red notice • TechCrunch

Terra’s Do Kwon set to lose passport weeks after Interpol red notice • TechCrunch

South Korea has ordered Do Kwon to surrender his passport, or possibility finding it revoked, as the East Asian nation escalates steps from the crypto entrepreneur whose blockchain collapse before this yr wiped investors’ $40 billion.

The South Korean govt has specified Kwon 14 days to comply with the new buy, it reported in a notice on the web-site Thursday. The buy follows Interpol issuing a pink recognize versus the crypto entrepreneur final thirty day period, requesting law enforcement agencies worldwide to locate and arrest him.

Kwon’s recent whereabouts is unidentified, but he is holding his followers up to day with his lifetime via Twitter.

On Wednesday, he refuted statements that his crypto resources experienced been frozen after media reports mentioned South Korean prosecutors had escalated actions versus him.

Korean media outlet Information1 described that prosecutors had frozen $39.6 million of crypto assets tied to the Terraform Labs founder and main government. The report was amplified by CoinDesk, a popular crypto-concentrated information outlet.

In response, Kwon labeled the information item as “falsehood,” as soon as yet again reiterating that he doesn’t use KuCoin and OkEx. “Have no time to trade, no cash have been frozen,” he mentioned. “I you should not know whose funds they have frozen, but fantastic for them, hope they use it for superior,” he added.

The collapse of Terra cryptocurrency (Luna) and the so-called stablecoin TerraUSD (UST) in May well wiped out investors’ $40 billion, prompting an uproar that brought on the prosecutors to launch investigations into Kwon and his colleagues.

Kwon has earlier reported that he is not hoping to hide from the authority and is not on the operate, a characterization the South Korean prosecutors have refuted.