Do Kwon’s Passport Voided — But On-the-Run Entrepreneur Says Seized $40M Crypto is Not His

By akohad Oct12,2022


Do Kwon’s passport has been officially voided by South Korea — and he has 14 days to surrender it to the authorities.

This will make international travel exceedingly difficult for the Terra founder, and pile pressure on the embattled entrepreneur to face charges after the $60 billion collapse of LUNA and UST.

Kwon is already subject to an Interpol red notice, meaning law enforcement agencies around the world have been asked to locate and arrest him.

The 31-year-old’s whereabouts is currently unknown, and he has struck a defiant tone on Twitter — declaring that he’s making “zero effort” to hide.

He is among six people who face allegations of violating South Korea’s capital markets law — and in other developments, one of the accused has been arrested.

They are known only by their surname Yu, and face charges of fraud and a breach of duty concerning market manipulation.

Reports also suggest that South Korean prosecutors have seized about $40 million worth of crypto that belongs to Do Kwon. Retweeting a CoinDesk article, he said:

“I don’t get the motivation behind spreading this falsehood — muscle flexing? But to what end? Once again, I don’t even use Kucoin and OkEx, have no time to trade, no funds have been frozen. I don’t know whose funds they’ve frozen, but good for them, hope they use it for good.”


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By akohad

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