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Korean officials have linked approximately 91.4 billion won, worth about $69 million, in digital assets directly to Do Kwon. South Korea officials continue to grill former Terraform Labs co-founder Kwon Do-Hyung, popularly known as Do Kwon, following his arrest earlier last month in Montenegro as he attempted to flee to Dubai.
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According to a report by South Korean news publication KBS, Do Kwon, the co-founder of Terraform Labs, has converted a “large part” of his assets into bitcoin. Prosecutors in South Korea believe that Kwon’s purported bitcoin stash was transferred to an international exchange. Report Says Do Kwon Allegedly Sold a ‘Large
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Prosecutors in South Korea – who confirmed the broadcaster's report to Forkast – estimate nine executives made a total of 414.5 billion won ($315 million) from the enterprise. Of that, prosecutors found "almost none" of the 91.4 billion won belonging to Kwon in South Korea, according to the report. Original Source
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The United States’ attempts to “assassinate crypto” are illegal and unlikely to succeed because “crypto is global,” Steven Boykey Sidley, a South African professor and author, has argued. According to Sidley, many formerly U.S.-based companies and innovators have fled the country and have set up bases in countries with more
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The Seoul Southern District Prosecutor's Office has reportedly confiscated roughly $160 million worth of assets from eight people connected to the collapse of Terraform Labs, including co-founder Daniel Shin.According to an April 3 report from South Korean news outlet KBS, authorities seized roughly 210 billion won — $160 million at
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The company, which provides a way for crypto companies to access the fiat payment system, aims to capitalize on South Korea's "high level of crypto acceptance" and assist local firms in achieving greater internationalization, according to a statement shared with CryptoX. It has previously worked with the likes of Visa,
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A court in South Korea has again denied the arrest warrant for Daniel Shin, a co-founder of Terraform Labs who is being investigated for fraud. Shin has been accused of illegally profiting from the sale of over $100 million worth of the luna cryptocurrency before it collapsed. Seoul Court Leaves Terraform
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After several failed attempts in the past, the South Korean National Assembly is now expected to pass its digital asset market regulation in April, a report has said. Kim Hee-gon, a member of the Political Affairs Committee’s first subcommittee, said the prospects of this happening were bolstered after members agreed
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Authorities from both the United States and South Korea have made efforts to have Terra co-founder Do Kwon extradited to their respective countries following his arrest in Montenegro.At a March 29 press conference, Montenegro’s Justice Minister Marko Kovac said the United States made diplomatic efforts to ask Kwon be handed
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“Primacy is given to the court proceedings led in Montenegro,” Kovac said, speaking through an interpreter. “If they are convicted for the criminal offense of falsifying identification documents, only after they served their prison sentence is it expected that they will be extradited.” Source
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