{"id":628048,"date":"2023-04-11T17:52:57","date_gmt":"2023-04-11T22:52:57","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/11\/terra-founder-do-kwon-invites-more-trouble-million-in-assets-to-be-frozen\/"},"modified":"2023-04-11T17:52:57","modified_gmt":"2023-04-11T22:52:57","slug":"terra-founder-do-kwon-invites-more-trouble-million-in-assets-to-be-frozen","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/11\/terra-founder-do-kwon-invites-more-trouble-million-in-assets-to-be-frozen\/","title":{"rendered":"Terra founder Do Kwon invites more trouble, million in assets to be frozen"},"content":{"rendered":"<div id=\"mvp-content-main\">\n<ul>\n<li><em>South Korea will freeze 7.1 billion Korean won (US$5.36 million) in Do Kwon\u2019s assets<\/em><\/li>\n<li><em>Do Kwon was arrested in Montenegro for travelling with fake documents.<\/em><\/li>\n<\/ul>\n<p>According to a recent Forkast <a href=\"https:\/\/forkast.news\/headlines\/south-korea-do-kwon-terra-luna\/\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">news report<\/a>, the Seoul Southern District Prosecutors\u2019 Office has frozen 7.1 billion Korean won ($5.36 million) in assets belonging to Terraform Labs CEO Kwon \u201cDo Kwon\u201d Do-hyung.<\/p>\n<p>According to a spokeswoman for the Seoul prosecutors\u2019 office, a Seoul court is assessing Kwon\u2019s domestic and foreign assets for compensation.<\/p>\n<p>The Seoul Southern District Prosecutors\u2019 Office earlier told Forkast that Kwon had \u201czero\u201d recognizable assets in South Korea. However, the representative would not clarify on how much of Kwon\u2019s assets in South Korea were included in the 7.1 billion won.<\/p>\n<p>South Korea will likely restrict Kwon from relocating or selling the listed assets if the case is granted by the court. The sum will be confiscated following a final guilty verdict from the court.<\/p>\n<p>Moreover, according to a recent <a href=\"https:\/\/www.news1.kr\/articles\/5012044\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">report<\/a> from the South Korean news outlet News1, the assets comprise the Terra founder\u2019s deposits in accounts based overseas, including one in Switzerland, where Seoul\u2019s prosecutors have requested judicial cooperation. Legal action is also being taken to collect Kwon\u2019s computers, hard disks, and other Terraform-related equipment.<\/p>\n<h3>South Korea and the US request Montenegro to extradite Do Kwon<\/h3>\n<p>Both South Korea and the United States have asked Montenegro authorities to extradite Do Kwon on allegations ranging from fraud to securities law crimes. Kwon and Terraform Labs have repeatedly said that the allegations are without merit and are politically driven.<\/p>\n<p>Kwon, along with Terraform\u2019s chief finance officer Han Chang-joon, is being imprisoned in Montenegro for allegedly travelling using fake travel documents. On 23 March, they were apprehended at a local airport in Montenegro.<\/p>\n<p>Kwon has been the target of several investigations and was even on Interpol\u2019s red notice after stablecoin <a href=\"https:\/\/ambcrypto.com\/?s=ust\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Terra USD [UST]<\/a> and its $40 billion ecosystem imploded last year, sending shockwaves across the crypto markets. The debacle contributed to the failure of several firms like the crypto hedge fund Three Arrows Capital (3AC).<\/p>\n<\/p><\/div>\n<div id=\"mvp-content-bot\">\n<div id=\"mvp-author-box-wrap\">\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/08\/image-1-80x80.jpeg\" height=\"60\" width=\"60\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2060%2060'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/08\/image-1-80x80.jpeg\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<p>Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating.<br \/>\nShillsalot&#8217;s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him.<br \/>\nP.S &#8211; There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous.<br \/>\nWait, are they Satoshi? :\/<\/p>\n<\/p><\/div>\n<div itemprop=\"publisher\" itemscope itemtype=\"https:\/\/schema.org\/Organization\">\n<div itemprop=\"logo\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\">\n<p><img decoding=\"async\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%200%200'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\"><\/p>\n<p><meta itemprop=\"url\" content=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/Menu-large-logo.png\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<meta itemprop=\"name\" content=\"AMBCrypto\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/ambcrypto.com\/terra-founder-do-kwon-invites-more-trouble-million-in-assets-to-be-frozen\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Suzuki Shillsalot<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korea will freeze 7.1 billion Korean won (US$5.36 million) in Do Kwon\u2019s assets Do Kwon was arrested in Montenegro for travelling with fake documents. According to a recent Forkast news report, the Seoul Southern District Prosecutors\u2019 Office has frozen 7.1 billion Korean won ($5.36 million) in assets belonging to Terraform Labs CEO Kwon \u201cDo<\/p>\n","protected":false},"author":1,"featured_media":628049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1479,41554],"tags":[],"class_list":["post-628048","post","type-post","status-publish","format-standard","has-post-thumbnail","category-founder","category-terra"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/628048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=628048"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/628048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/628049"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=628048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=628048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=628048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}