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Korean authorities freeze $39 million in cryptocurrency linked to Do Kwon

Korean authorities freeze $39 million in cryptocurrency linked to Do Kwon

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Answer Korean authorities freeze $39 million in cryptocurrency linked to Do Kwon

South Korean prosecutors are continuing to put pressure on Terraform Labs after the fiasco earlier this year.

This time, the authorities were able to freeze 56 billion won (worth $39.4 million) in assets linked to founder Do Kwon.

According to South Korean media News 1In this case, prosecutors were able to freeze 56.2 billion won of digital assets owned by Do Kwon, CEO of Terraform Labs.

This comes as the latest development in the matter.

Earlier this past September, reports claimed that authorities had frozen more than $65 million worth of bitcoin supposedly owned by developers.

It is also worth noting that the South Korean authorities also requested the issuance of an INTERPOL Red Notice against Do Kwon.

Read:A Canadian oil company dedicates its untapped energy to Bitcoin mining…Details here

He told the Seoul Southern District Prosecutor’s Office:

We have started the procedure to put him on the INTERPOL Red List and cancel his passport… We are doing everything we can to locate and arrest him… It is clear that he is a fugitive because the main financial persons of his company also left for the same country (Singapore) during that time.

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