Terra-Luna crypto founder Do Kwon has “zero” identifiable assets in South Korea, according to local prosecutors. Kwon is currently under arrest for fraud charges in the US and South Korea after Terra-Luna’s collapse in May 2020.
Nine former and current Terraform Labs executives are alleged to have illegally amassed KRW 414.5 billion ($314.2m) from the project.
Of this, KRW 91.4 billion is allegedly attributed to Kwon, but South Korean prosecutors confirm that none of his assets are in their jurisdiction.
Terraform co-founder Daniel Shin has reportedly had assets seized, including real estate and cars, and prosecutors have requested global exchanges to freeze cryptocurrencies allegedly belonging to Shin. Both South Korea and the US have requested Kwon’s extradition, which he has rejected as politically motivated.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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