Korean Authorities Freeze $39 Million of Crypto Tied to Do Kwon

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South Korean prosecutors continue their pressure on Terraform Labs following the fiasco that took place earlier this year.

This time, the authorities have managed to freeze a whopping 56 billion won (worth around $39.4 million) in assets that are tied to Do Kwon.

According to the South Korean media outlet News1, prosecutors have managed to freeze 56.2 billion won in virtual assets owned by Do Kwon – CEO of Terraform Labs.

This comes as the latest development on the matter. Earlier in September, reports claimed that authorities had frozen over $65 million in BTC supposedly owned by the developer or any of his projects.
It’s also worth noting that the South Korean authorities also requested a red notice on behalf of Interpol.

Back the, the Seoul Southern District Prosecutor’s office said:

We have begun the procedure to replace him on the Interpol red notice list and revoke his passport… We are doing our best to locate and arrest him… He is clearly on the run as his company’s key finance people also left for the same country (Singapore) during that time.


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