South Korea has escalated their efforts to locate and apprehend Terraform Labs founder Do Kwon.
In recent news, Do Kwon’s passport has been invalidated by South Korea's Ministry of Foreign Affairs.
On October 5 2022, Do Kwon took to Twitter and addressed rumours that prosecutors had frozen crypto he supposedly owned on KuCoin and OKX.
Do Kwon v South Korea
South Korea has decided to invalidate Do Kwon's passport after announcing that it will be cancelled. Do Kwon will have 14 days to return his passport and any re-issuance will be denied.
The announcement was made public due to South Korea's inability to deliver the demands to Do Kwon himself.
A translation of the document from Yahoo!:
Our Department would like to send a 'Notice of Order for Return of Passport' to you by registered mail... we inform you that the validity of your passports will be invalidated and administratively invalidated
On October 5 Do Kwon responded to a CoinDesk report that claimed prosecutors in South Korea had frozen over $39 million of Do Kwon’s crypto assets. The assets were being held on crypto exchanges KuCoin and OKX.
Kwon responded to the charges by stating that he does not use KuCoin or OKX to trade funds and has no idea whose funds have been blocked by the exchanges.
Kwon has repeatedly denied that he is evading prosecutors and has publicly declared that he’s doing his best to cooperate with the government.
In a Tweet from September 17 2022:
I am not “on the run” or anything similar - for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide
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