South Korean authorities are seeking the arrest of Do Kwon, co-founder and chief executive officer of Terraform Labs. His company is behind the now-collapsed terraUSD and luna cryptocurrencies. South Korean prosecutors are now seeking to freeze bitcoin linked to Kwon.
Woohae Cho | Bloomberg | Getty Images
South Korean authorities on Thursday began the process of canceling the passport of Terraform Labs founder Do Kwon whose company was behind a dramatic $60 billion cryptocurrency collapse.
Police have also arrested one person in connection with Kwon’s operations.
Kwon has been ordered by the South Korean foreign ministry to return his passport by Oct. 19 or face having the document canceled.
The saga between Kwon and South Korean authorities continues to intensify after the collapse of terraUSD and luna wiped billions off of the cryptocurrency market and sent shockwaves through the industry. Terraform Labs, Kwon’s company, was behind both of those digital coins.
South Korean...
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