South Korean prosecutors: Have frozen assets of approximately $5.36 million belonging to Do Kwon

2023-04-11 18:17:44

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ChainCatcher news, a spokesperson for the Southern District Prosecutor's Office in Seoul said on Tuesday that they have frozen assets worth 7.1 billion won (approximately 5.36 million USD) belonging to Terraform Labs CEO Do Kwon.

It is reported that a court in Seoul is reviewing Do Kwon's assets both domestically and abroad in an effort to seek restitution. If the court approves, South Korea is expected to prevent Do Kwon from transferring or selling the identified assets. This money will be confiscated after a final guilty verdict is reached. The prosecutor's office confirmed that these assets include Do Kwon's deposits overseas, with one account located in Switzerland, and the Seoul prosecutors are requesting judicial cooperation. (source link)

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