South Korean Prosecutors Freeze $39.6M in Crypto Owned by Terraform’s Do Kwon: Report

Prosecutors in South Korea have frozen $39.66 million of cryptocurrency assets belonging to Kwon Do-hyung, more commonly known as Do Kwon, the CEO of Terraform Labs, the firm behind the failed Luna stablecoin project, according to Korean media outlet News1.

Late last month, authorities in South Korea requested crypto exchanges OKX and KuCoin to freeze some 3,313 bitcoin (BTC), worth around $67 million, tied to Do Kwon.

The move follows a recent issuance by Interpol of a Red Notice for Do Kwon, a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender or similar legal action.