Fugitive former crypto tycoon Do Kwon who faces charges over a $60 billion wipeout is set to lose his South Korean Passport. As the East Asian nation proceeds against the crypto entrepreneur, the government has given Kwon 14 days to comply with the new order.
Reportedly, the prosecutors had frozen $39.6 million of crypto assets associated with the Terraform Labs founder and chief executive. Kwon, however, denied claims and said that he has no time to trade and no funds have been frozen. He added, “I don’t know whose funds they’ve frozen, but good for them, hope they use it for good. “
The recent order follows Interpol issuing a red notice against Kwon last month. Under the red notice, law enforcement agencies worldwide were requested to locate and arrest Kwon. His current whereabouts are unknown but he is actively tweeting to update his followers with the ongoing proceedings.
