South Korean Prosecutors Want To Freeze Crypto Holdings And Cash Terraform Labs founded by do quonand has asked a court to help him freeze funds located in Switzerland and elsewhere.
according to the newspaper joongangProsecutors are “moving forward with the process of freezing domestic and foreign assets” related to Kwon.
Quan is currently being detained in Montenegro.
A spokesman for the Seoul Southern District Prosecutor’s Office told media representatives that the office was “awaiting the court’s decision on freezing Kwon’s domestic and foreign assets.”
Kwon is believed to have transferred most of his holdings to exchange wallets.
United States authorities believe Kwon made cash payments worth about $100 million. bitcoin (btc) through a bank in Switzerland during his 11-month flight from law enforcement.
Kwon is wanted on fraud charges South Korea and USAas well as Singapore,
Montenegrin authorities also want to charge him with entering the country illegally.
They have accused him of traveling with forged documents.
How much crypto is in Terra Ke Do Kwon Do?
South Korean prosecutors said they were still “identifying the exact size and nature” of Kwan’s assets.
But prosecutors asked the court to make a pre-indictment freezing order.
Officials claimed this would help prevent Kwon or his associates “from disposing of the assets”.
They claimed that they were also “tracking down assets believed to have been stolen by Kwon.”
They are believed to have processed these assets through “foreign cryptocurrency exchanges and Swiss bank accounts.”
Earlier this month, South Korean officials claimed they had Identified “illegal assets” worth $314.2 million Connected with Kwon and his associates.
Prosecutors find that Cone converted most of his funds into bitcoin through overseas crypto exchanges.
The spokesman said prosecutors had “already frozen” some of the funds.
The spokesman said prosecutors were “requesting” more freezing orders from “several foreigners”. [crypto] Exchange” and “Swiss Savings Account Operator.”
Prosecutors have also seized coins and other assets belonging to Terraform co-founder Daniel Shin.
It has requested that foreign exchanges such as Binance Freeze Shin’s crypto wallet,
Shin is also the founder of payments firm Chai Corporation, a former partner of Terraform.
Assets worth more than $127 million belonging to seven Terra employees have also been seized.
These assets include cryptocurrencies, cars, buildings and plots of land.