South Korean authorities have continued to freeze assets belonging to or connected to Terraform’s founder Do Kwon.
The prosecutors are applying continuous pressure on Terraform Labs following the catastrophe that occurred earlier this year.
This time, the authorities have frozen a whopping 56 billion won which is worth around $39.4 million in assets connected to Do Kwon.
- According to News1, a South Korean media outlet, the prosecutors managed to freeze 56.2 billion won in virtual assets which are owned by the CEO of Terraform Labs – Do Kwon.
- This is coming as the latest development on this issue. Earlier in September, it was reported that the authorities froze over $65 million in BTC supposedly owned by Do Kwon or any of his projects.
- Worthy of note is that the South Korean authorities on behalf of Interpol requested a red notice.
- Back then, the office of the Seoul Southern District Prosecutor’s 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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