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Seoul Prosecutors Believe Terra Co-Founder Do Kwon Still in Possession of $100 Million Held in Swiss Bank Account

The Seoul Southern District Prosecutor’s Office claims that Terraform Labs and co-founder Do Kwon still have access to $100 million held in a Swiss bank account, which was allegedly transferred out of South Korea following the recent legal action against ten Terra associates.

The prosecutor's office has been monitoring the movement of Terra-linked bitcoin and revealed this information during a press conference held to discuss the recent indictment. The investigation into Terraform Labs and Do Kwon’s financial dealings is ongoing, and further details may emerge concerning this matter.

An onchain researcher previously found evidence that Luna Foundation Guard, an organization created to defend Terra's stablecoin UST's dollar peg, accumulated a significant amount of Bitcoin before Terra's collapse.

Terra Terra $0.41
-5.61%
Do Kwon
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