South Korea: Dismantling of the Do Kwon cave

Believing himself to be very clever, Do Kwon ensured that his possessions remained hidden from the eyes of the South Korean authorities. But the latter seem to have found leads to get their hands on the assets of Terra investors “illegally” seized by the fugitive from Montenegro. Currently, we say that cryptocurrencies and luxury items belonging to him have just been seized.

Do Kwon, beginning of the seizure of his property

We claimed a month ago that most of Do Kwon’s assets have been converted to bitcoin. This made their entry complex at the time.

But in a publication dated May revealed that the Seoul Southern District Court got its hands on nearly 230 billion won belonging to the deposed CEO of Terraform Labs. This is to prevent the young Kwon from being able to sell anything before he arrives in front of the bar.

[…] Chief Justice Yun Chan-young of the 12e Criminal Division of Seoul’s Southern District Court recently granted the prosecution’s request for the seizure of Kwon’s property prior to his indictment. Kwon’s compensation amount, which the court upheld, was 233.3 billion won “, can we read in the Korean newspaper.

Among the assets seized are:

  • cryptocurrencies;
  • a residential and commercial apartment complex in Seongdong-gu (Seoul) called “Galleria Foret”;
  • securities deposited in the brokerage firm Mirae Asset Securities;
  • deposits deposited in Woori Bank:
  • a studio in the residential neighborhood of Nonhyun-don;
  • luxury cars;
  • etc

It should be noted, however, that some assets belonging to Do Kwon were spared, specifies CryptoPotato.

Additional extradition request

In this month of May, Terra Collapse will be 1 year old. This unfortunate event cost approximately 50 trillion won in losses to investors. That’s $40 billion.

If currently he is still in prison in the Balkan, prosecutors have asked that Do Kwon be the subject ofextradition to south korea. Thus, he will be able to answer for his actions before the local court.

Some say the CEO of Terraform Labs will be able to geta prison term of 40 years if convicted in his country of origin.

And if the United States ever decides to remove him from his current place of extradition, as they did with the young hacker PlugWalkJoe, he could be incarcerated for at least 100 years.

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