Do Kwon, co-founder and former CEO of Terraform Labs, has had over $176 million worth of personal assets frozen as part of ongoing criminal proceedings. The Chief Judge of the 12th Criminal Division of the Seoul Southern District Court has prohibited the sales of Kwon's apartment complex, officetel, and imported cars, as well as the disposition of his financial assets. Kwon was arrested in March and charged with falsifying documents, and both South Korean and U.S. authorities are seeking his extradition. Prosecutors allege that Kwon converted illicit funds from LUNC to Bitcoin and have identified $314.2 million in illicit assets.
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Former CEO of Terraform Labs Has $176 Million in Assets Frozen Amid Criminal Proceedings
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