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Local Prosecutors Say Terra-Luna’s Do Kwon Has No Identifiable Assets in South Korea

The arrested crypto fugitive and Terraform Labs founder Kwon Do-hyung, who faces fraud charges in the U.S. and South Korea, has “zero ” identifiable assets in his native South Korea, prosecutors said on Friday.

South Korean prosecutors say that nine former and current executives of Terraform Labs illegitimately amassed 414.5 billion Korean won (US$314.2 million) from the project, according to a report from national news broadcaster KBS, which Seoul Southern District Prosecutors confirmed withForkastvia text message.Prosecutors say about 91.4 billion won of the specified amount belongs to Kwon, but confirmed none of his assets are within their jurisdiction.

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