Do Kwon Set to Lose South Korean Passport Amid Active Interpol Red Notice
South Korea has ordered Do Kwon to surrender his passport on pain of having it revoked, as the East Asian nation intensifies its actions against the entrepreneur in crypto whose blockchain meltdown earlier this year wiped out $40 billion from investors.
The South Korean government has given Kwon 14 days to comply with the new order, he said in a notice posted on the website Thursday. The order follows Interpol's issuance of a Red Notice against the crypto entrepreneur last month, asking law enforcement around the world to locate and arrest him.
Kwon's current whereabouts are unknown, but he is keeping his followers updated on his life via Twitter.
On Wednesday, he refuted claims that his crypto funds had been frozen after media reports said South Korean prosecutors had escalated actions against him.
Korean news outlet News1 reported that prosecutors froze $39.6 million in crypto assets linked to the founder and CEO of Terraform Labs. The report was amplified by CoinDesk, a popular crypto-focused outlet.
In response, Kwon called the news a "lie", once again reiterating that he does not use KuCoin and OkEx. "You don't have time to trade, no funds have been frozen," he said. "I don't know who owns the funds they have frozen, but good for them, I hope they use them for good," he added.
The collapse of cryptocurrency Terra (Luna) and so-called stablecoin TerraUSD (UST) in May wiped out investors' $40 billion, sparking an outcry that prompted prosecutors to launch investigations into Kwon and his colleagues.
Kwon has previously stated that he is not trying to hide from authorities and is not on the run, a characterization which South Korean prosecutors have refuted.
South Korea has ordered Do Kwon to surrender his passport on pain of having it revoked, as the East Asian nation intensifies its actions against the entrepreneur in crypto whose blockchain meltdown earlier this year wiped out $40 billion from investors.
The South Korean government has given Kwon 14 days to comply with the new order, he said in a notice posted on the website Thursday. The order follows Interpol's issuance of a Red Notice against the crypto entrepreneur last month, asking law enforcement around the world to locate and arrest him.
Kwon's current whereabouts are unknown, but he is keeping his followers updated on his life via Twitter.
On Wednesday, he refuted claims that his crypto funds had been frozen after media reports said South Korean prosecutors had escalated actions against him.
Korean news outlet News1 reported that prosecutors froze $39.6 million in crypto assets linked to the founder and CEO of Terraform Labs. The report was amplified by CoinDesk, a popular crypto-focused outlet.
In response, Kwon called the news a "lie", once again reiterating that he does not use KuCoin and OkEx. "You don't have time to trade, no funds have been frozen," he said. "I don't know who owns the funds they have frozen, but good for them, I hope they use them for good," he added.
The collapse of cryptocurrency Terra (Luna) and so-called stablecoin TerraUSD (UST) in May wiped out investors' $40 billion, sparking an outcry that prompted prosecutors to launch investigations into Kwon and his colleagues.
Kwon has previously stated that he is not trying to hide from authorities and is not on the run, a characterization which South Korean prosecutors have refuted.
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