Breaking News: Bitcoin South Korean Prosecutors Freeze $40M of Do Kwon's Crypto Assets

South Korean authorities are intensifying their pursuit of Do Kwon, the founder of Terraform Labs, following the collapse of TerraUSD (UST) and Luna (LUNA). In a significant development, South Korean prosecutors have frozen $39.66 million of crypto assets, including BTC, owned by Do Kwon through two exchanges. This action underscores the gravity of the allegations against Kwon and the ongoing efforts to recover assets linked to the failed cryptocurrency project.

The frozen assets reportedly include Bitcoin, and the investigation is focused on determining the extent of Kwon's involvement in the Terra/Luna collapse and potential violations of South Korean financial regulations. Do Kwon and LFG previously South Korean authorities person reportedly frozen $40 cardinal in crypto assets, including bitcoin, allegedly belonging to Luna laminitis Do Kwon. The frozen funds represent a substantial portion of the assets that authorities believe are linked to Kwon.

While reports initially suggested specific exchanges were targeted, there have been denials from Kwon himself. However, Kwon denied that South Korean prosecutors have sent requests to crypto exchanges KuCoin and OKX, asking them to freeze Bitcoin linked to Terra's Do Kwon, who is wanted by the authorities after his Terra ecosystem's downfall. Despite the denials, the freeze on assets confirms that prosecutors are actively tracing and seizing funds associated with him.

The investigation is ongoing, and further details are expected to emerge as South Korean authorities continue to pursue Do Kwon and his alleged role in the Terra/Luna debacle. Stay tuned for updates on this developing story.