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

South Korea has purchased Do Kwon to surrender his passport, or hazard getting it revoked, as the East Asian nation escalates actions versus the crypto entrepreneur whose blockchain collapse earlier this yr wiped investors’ $40 billion.

The South Korean govt has given Kwon 14 days to comply with the new purchase, it claimed in a recognize on the internet site Thursday. The get follows Interpol issuing a crimson discover towards the crypto entrepreneur final thirty day period, requesting law enforcement agencies globally to track down and arrest him.

Kwon’s recent whereabouts is unidentified, but he is trying to keep his followers up to day with his lifestyle as a result of Twitter.

On Wednesday, he refuted statements that his crypto funds experienced been frozen immediately after media reviews claimed South Korean prosecutors experienced escalated steps in opposition to him.

Korean media outlet Information1 noted that prosecutors experienced frozen $39.6 million of crypto assets tied to the Terraform Labs founder and chief government. The report was amplified by CoinDesk, a well-known crypto-focused news outlet.

In reaction, Kwon labelled the information item as “falsehood,” after all over again reiterating that he does not use KuCoin and OkEx. “Have no time to trade, no money have been frozen,” he explained. “I never know whose resources they’ve frozen, but excellent for them, hope they use it for superior,” he additional.

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

Kwon has earlier mentioned that he is not making an attempt to cover from the authority and is not on the operate, a characterization the South Korean prosecutors have refuted.

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