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News - Prosecutors freeze Do Kwon's millions.
According to a South Korean news agency the prosecution has frozen Do Kwon's personal assets - about $176 million. In mid-March, task forces arrested the Terra founder
In addition, the court placed an injunction on the sale of Kwon's luxury flat in Seoul and some of his imported cars. Under South Korean law, it is forbidden to dispose of proceeds and property acquired through crimes. Suspects are also not allowed to dispose of financial assets, including securities, bank deposits and cryptocurrencies, it added.
One year ago ❗️
— Whale Coin Talk (@WhaleCoinTalk) May 9, 2023
We were stunned by #DoKwon's announcement of deploying more capital, but what came next was the legendary #LUNA crash that shook the market.📉
This event highlights the unpredictable nature of #crypto and reminds us to always approach it with caution.💡 pic.twitter.com/ZPh9UPjslh
Emergency services had already had Terra's founder at Montenegro airport in March arrested. Now South Korea and the U.S. are struggling on extradition. Authorities have already filed fraud charges.
Since Do Kwon had traveled from Costa Rica with forged travel documents, he is also being charged by Montenegrin authorities. Do Kwon's lawyers are going to be busy.
