Oct. 6 (UPI) — South Korea’s International Ministry Thursday ordered fugitive cryptocurrency government Do Kwon to give up his passport by Oct. 19 or danger having it canceled. Kwon’s location is unknown.
South Korea has arrested Yoo Mo, a enterprise affiliate of Kwon’s who was head of the enterprise crew at Kwon’s firm Terraform Labs. It is the primary arrest within the months-long investigation into the collapse of the crypto firm.
Kwon is the founding father of Terraform Labs, an organization that collapsed, erasing $60 billion in terraUSD and luna digital cash from the cryptocurrency market. Bloomberg reports that Interpol has issued a “pink discover” for Do Kwon, alerting regulation enforcement around the globe that he’s wished.
Kwon denies he’s a fugitive. South Korean authorities have frozen $39.6 million in crypto they stated is owned by Kwon. They earlier requested that cryptocurrency exchanges KuCoin and OKx freeze over $60 million allegedly tied to Kwon.
In a Wednesday tweet, Kwon disputed that his cash had been frozen.
“I do not get the motivation behind spreading this falsehood — muscle flexing? However to what finish? As soon as once more, I do not even use Kucoin and OkEx, I’ve no time to commerce, no funds have been frozen.”
The Seoul Southern District Prosecutor’s workplace has obtained an arrest warrant for Kwon, according to The Wall Street Journal.
Prosecutors allege Kwon and 5 others broke capital markets legal guidelines and dedicated fraud.
The South Korean Ministry of International Affairs posted a public announcement notifying Kwon his passport might be invalid in 14 days. The government said the general public discover was getting used resulting from an incapability to ship the passport return order by mail.
South Korean prosecutors have launched an international manhunt for Kwon.