South Korea: Foreign ministry orders Do Kwon to return his passport | The Financial Express

South Korea: Foreign ministry orders Do Kwon to return his passport

According to another local newspaper, the passport return order was issued for six Terraform Labs employees, including Kwon.

South Korea: Foreign ministry orders Do Kwon to return his passport
Kwon became a divisive character in the aftermath of the Terra ecosystem meltdown, which cost investors more than $40 billion.

The South Korean Ministry of Foreign Affairs ordered Terraform Labs CEO Do Kwon to forfeit his passport on Wednesday, as reported by Cointelegraph.

The fugitive co-founder has 14 days from the date of the order to surrender his Korean passport to authorities. Failure to follow the order will result in the termination of his passport. The formal order also cautioned that failing to comply will result in future requests for re-issuance being denied. 

According to another local newspaper, the passport return order was issued for six Terraform Labs employees, including Kwon.

According to Cointelegraph, South Korean officials have made extensive efforts to apprehend Kwon, with a warrant for his arrest issued by a Korean court on September 14 and an Interpol red alert issued on September 26. However, his current location remains unknown.

Kwon became a divisive character in the aftermath of the Terra ecosystem meltdown, which cost investors more than $40 billion. Despite an arrest order and an Interpol alert against his name, the fugitive crypto creator said that he has not been approached by any authorities in connection with any inquiry.

The Do Kwon saga took another twist last month, with local media claiming that Korean officials had demanded the freezing of $67 million in Bitcoin allegedly linked to the tainted co-founder. Kwon denied ownership of the monies once more, claiming that he had not utilised the two crypto exchanges referenced in the report in two years.

(With insights from Cointelegraph)

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