Crypto Finance Today

Authorities are still trying to find and arrest the software developer.

Prosecutors in South Korea have frozen 56.2 billion gained ($39.6 million) of cryptocurrency belongings belonging to Do Kwon, CEO of Terraform Labs, the association in the back of the failed Luna stablecoin project, according to Korean media outlet News1.

Late last month, Interpol, an international organization that coordinates global searches for suspects, issued a “red notice” for Kwon. A red notice is an order to law enforcement worldwide to find and arrest a wanted person. Kwon has yet to be located.

Late closing month, authorities in South Korea asked crypto exchanges OKX and KuCoin to freeze 3,313 bitcoins (BTC) well worth round $67 million that are tied to Kwon.

“I do not get the motivation in the back of spreading this falsehood – muscle flexing? But to what end?” Kwon tweeted Wednesday in response to CoinDesk’s story about the News1 report. “Once again, I don’t even use Kucoin and OkEx, have no time to trade, no funds have been frozen. I do not comprehend whose money they’ve frozen, however true for them, hope they use it for good.”

Late last month, Interpol, an international organization that coordinates global searches for suspects, issued a “red notice” for Kwon. A red notice is an order to law enforcement worldwide to find and arrest a wanted person. Kwon has yet to be located.Late last month, Interpol, an international organization that coordinates global searches for suspects, issued a “red notice” for Kwon. A red notice is an order to law enforcement worldwide to find and arrest a wanted person. Kwon has yet to be located.