Do Kwon is deported to South Korea

The South Korean Prosecutor’s Office has requested the country’s Ministry of Foreign Affairs to revoke the passport of Terraform Labs CEO Do Kwon. According to international law, citizens with revoked identity documents must be immediately deported to their country of origin. Therefore, Do Kwon will be forced to return from Singapore back to South Korea. The revocation process usually takes up to 30 days, but prosecutors are pressuring Kwon and the other suspects to voluntarily surrender their passports to the South Korean embassy in Singapore. Korean prosecutors are now on their way to Singapore to meet with Kwon and other Terraform executives in person.

It should be noted that law enforcement has been trying to put Do Kwon in the dock since the summer. In early July, the South Korean and US police agreed to cooperate in the investigation of the Terra ecosystem’s collapse. Do Kwon and Terraform Labs are still the targets of many lawsuits, with new charges emerging almost daily.

Yesterday, the court issued an arrest warrant for Terraform Labs CEO Do Kwon and five other employees of the company. They are officially accused of violating the country’s legislation on financial capital markets. It seems that South Korean prosecutors now have enough evidence to bring Kwon to justice. However, the developer had hired a lawyer in South Korea even before the official charges and information about his deportation to be prepared for a long legal battle.