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

South Korea has ordered Do Kwon to surrender his passport, or possibility receiving it revoked, as the East Asian country escalates steps from the crypto entrepreneur whose blockchain collapse earlier this 12 months wiped investors’ $40 billion.

The South Korean govt has given Kwon 14 days to comply with the new buy, it reported in a discover on the web-site Thursday. The purchase follows Interpol issuing a purple recognize towards the crypto entrepreneur very last thirty day period, requesting law enforcement businesses around the world to find and arrest him.

Kwon’s present whereabouts is not known, but he is maintaining his followers up to day with his everyday living by Twitter.

On Wednesday, he refuted claims that his crypto cash had been frozen right after media reviews stated South Korean prosecutors experienced escalated steps in opposition to him.

Korean media outlet Information1 noted that prosecutors had frozen $39.6 million of crypto assets tied to the Terraform Labs founder and main govt. The report was amplified by CoinDesk, a well known crypto-targeted information outlet.

In reaction, Kwon labelled the news merchandise as “falsehood,” when once more reiterating that he does not use KuCoin and OkEx. “Have no time to trade, no money have been frozen,” he explained. “I really do not know whose money they’ve frozen, but superior for them, hope they use it for great,” he additional.

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

Kwon has earlier reported that he is not hoping to cover from the authority and is not on the run, a characterization the South Korean prosecutors have refuted.

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