Terra co-founder Do Kwon’s troubles seem to be intensifying after Interpol issued a red notice against him. In the latest move, South Korean authorities have deepened their investigation against the alleged crypto-fugitive.
Will Do Kwon lose his bitcoins?
According to reports, South Korean prosecutors are preparing to freeze digital assets linked to crypto-fugitive Do Kwon. However, the authority is looking to arrest Terra’s chief on suspicion of violating securities laws.
The South Korean authority has asked crypto-currency exchanges KuCoin and OKX to seize about 3,313 bitcoins linked to Do Kwon. The estimated amount of bitcoins considered is $66.9 million.
The report states that these bitcoins were transferred from various sources to a wallet named Luna Foundation Guard (LFG). An official from the southern district of Seoul declined to disclose the intended plan. However, KuCoin and OKX officials declined to comment on the matter at this time.
3,313 bitcoins were sent from LFG to various crypto-currency exchanges shortly after South Korea issued an arrest warrant for Do Kwon.
Terra’s head leaks investigation?
Do Kwon, in an interaction on Twitter, mentioned that he made negligible efforts to hide himself. He added that he was walking around and going to shopping malls. However, no one has approached him in the past few weeks. Do Kwon added that he tried to search for the red notice on the Interpol website.
However, this is the first time in the past four months that the Seoul Southern District Prosecutor and the Joint Stock Market Crime Investigation Team have taken action to seize Do Kwon’s digital assets.
Do Kwon is on the run from the historic crypto Wipeout. Terra’s USTC stablecoin and LUNA native token collapsed into ash. This caused about $62 billion worth of damage to the global crypto-currency market.