Terra's Do Kwon set to lose passport weeks after Interpol red notice • TechCrunch

South Korea has purchased Do Kwon to surrender his passport, or chance having it revoked, as the East Asian country escalates actions versus the crypto entrepreneur whose blockchain collapse previously this year wiped investors’ $40 billion.

The South Korean authorities has supplied Kwon 14 times to comply with the new buy, it stated in a observe on the web page Thursday. The order follows Interpol issuing a purple detect versus the crypto entrepreneur last month, requesting law enforcement agencies worldwide to find and arrest him.

Kwon’s recent whereabouts is mysterious, but he is trying to keep his followers up to day with his daily life through Twitter.

On Wednesday, he refuted promises that his crypto money had been frozen following media reports reported South Korean prosecutors had escalated steps against him.

Korean media outlet News1 documented that prosecutors experienced frozen $39.6 million of crypto assets tied to the Terraform Labs founder and chief executive. The report was amplified by CoinDesk, a well-liked crypto-concentrated information outlet.

In response, Kwon labelled the news product as “falsehood,” when once more reiterating that he does not use KuCoin and OkEx. “Have no time to trade, no resources have been frozen,” he stated. “I do not know whose cash they’ve frozen, but good for them, hope they use it for superior,” he included.

The collapse of Terra cryptocurrency (Luna) and the so-called stablecoin TerraUSD (UST) in Could wiped out investors’ $40 billion, prompting an uproar that induced the prosecutors to launch investigations into Kwon and his colleagues.

Kwon has previously explained that he is not trying to hide from the authority and is not on the run, a characterization the South Korean prosecutors have refuted.

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