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Do Kwon’s whereabouts still a mystery as authorities seek US$36mln asset freeze

Stock Markets Sep 28, 2022 00:30
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© Reuters. Do Kwon’s whereabouts still a mystery as authorities seek US$36mln asset freeze

In the latest development on the attempted prosecution of Do Kwon, South Korean authorities are trying to persuade digital asset exchanges KuCoin and OKX to freeze US$67mln worth of Bitcoin linked to the wayward Terraform Labs founder.

OKX has so far ignored requests, according to CoinDesk Korea, though as an unregulated entity, the exchange’s obligations are unclear.

Kwon’s whereabouts is a matter of speculation; thought to have fled to Singapore following the US$60bn collapse of his two cryptocurrencies LUNA and UST, Singapore authorities have since stated that he’s not in the city-state.

Authorities want Kwon and associates to return to South Korean and face charges of securities law violations following the collapse of his two cryptocurrencies, both of which were among the 10 largest coins by market capitalisation.

While Kwon has stated that “I am not on the run or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide,” he has so been ambiguous regarding his location.

Interpol enters the frame (maybe)

It’s far from the only matter of contention in the bizarre case that has gripped the crypto community.

News that Interpol has officially become involved in the manhunt has been rejected by Kwon himself, at least in his proprietary circumvent manner.

The Red Notice was first reported by Bloomberg, though as pointed out by Kwon, his name has yet to appear on the international crime agency’s official Red Notice list.

“For something that has notice in the name it sure gives no notice,” he japed over Twitter (NYSE:TWTR).

However, the majority of Interpol’s Red Notices “are for police use only and therefore cannot be consulted,” according to the FAQs. A request has been sent for confirmation.

Kwon was asked by Coinage in August if he would ever return to South Korea to face the music.

“It’s kind of hard to make that decision, because we’ve never been in touch with the investigators…They’ve never charged us with anything,” he said.

But despite official charges now being laid, perhaps even by Interpol, he has yet to face the music.

Read more on Proactive Investors AU

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Do Kwon’s whereabouts still a mystery as authorities seek US$36mln asset freeze
 

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