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South Korean authorities demand that Do Kwon return his passport
The South Korean Ministry of Foreign Affairs demands that Do Kwonreturn his passport within the next 14 days. If Kwon fails to do so, his identity card will be invalidated within the country. Earlier, the South Korean prosecutor’s office filed a request with the Ministry of Foreign Affairs to revoke the passport of Terraform Labs' CEO. According to international law, citizens with revoked IDs must be immediately deported to their country of origin. Law enforcement officials believed that Kwon was with his family in Singapore, but he was not there.
No one knows for sure where Do Kwon is now. The CEO of Terraform Labs boasts on Twitter that he is «making minimal efforts to hide.» Meanwhile, South Korean authorities yesterday froze another 56 billion won (approximately $ 39.4 million) in assets related to Do Kwon. Earlier in September, it was reported that law enforcement officials froze Kwon’s bitcoins worth more than 65 million. However, the co-founder of the cryptocurrency LUNA denies this information.
«I don’t understand the motivation for spreading this lie — is it a muscle game? But for what purpose? … I don’t know whose funds have been frozen, but I hope they use it for good,» Kwon wrote on Twitter.
As a reminder, 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 crash. Despite the main accusations, Do Kwon and Terraform Labs are still the subject of many lawsuits.
It should be added that well-known cryptocurrency bloggers (though also suspected of cryptocurrency fraud) are defending Do Kwon. For example, the owner of the Bitboy Crypto YouTube channel, Ben Armstrong, believes that Terra project founder Do Kwon «is not such a bad guy.» As Armstrong wrote on Twitter, Kwon was «just unlucky». However, according to the blogger, the founder of the LUNA cryptocurrency should be held responsible for the collapse of the Terra ecosystem.