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The saga of the Terraform Labs, the implosion of which has sent shockwaves across the cryptocurrency market, continues to draw media attention, as South Korean and international authorities are taking more interest in the platform’s CEO Do Kwon.
As it happens, South Korean prosecutors have frozen 56.2 billion won ($39.66 million) in digital assets, including Bitcoin (BTC), owned by Do Kwon through two crypto exchanges, as Korean local media outlet News1 reported on October 5.
Shortly after the news started to circulate, Do Kwon retorted on Twitter, referring to such reports as “spreading falsehood” and claiming he doesn’t “even use Kucoin and OkEx, have no time to trade, no funds have been frozen.” As he stressed in his tweet:
Headed by Director Seong Dan, the Seoul District Prosecutors’ Joint Financial Securities Crime Investigation Team froze these assets on September 27, adding up to the previously frozen 38.8 billion won that Do Kwon allegedly tried to hide.
Source: finbold.com
