South Korea Tries to Freeze Do Kwon’s $67M Bitcoin

South Korean authorities have asked crypto exchanges OKX and KuCoin to freeze some 3313 bitcoin (BTC) owned by Do Kwon, Terraform Labs co-founder.

The Bitcoin are worth around $67 million.

Reports had it that the bitcoin was transferred to digital wallets of the exchanges shortly after an arrest warrant was issued for Do Kwon in South Korea on Sept. 14.

Authorities have accused the TerraLabs co-founder entrepreneurg the country’s securities laws.

The crypto entrepreneur’s warrant comes just months after the collapse of the $40 billion Terra ecosystem, which triggered a market downturn and the collapse of other major players in the industry.

Do Kwon has maintained that he is not on the run but South Korean authorities had asked Interpol for assistance in locating him.

On Monday, Interpol put out a Red Notice, a request to law enforcement around the world to locate and provisionally arrest Kwon pending extradition, surrender or similar legal action.

CoinDesk reports that while KuCoin has frozen some 1354 BTC ($27 million) transferred to the platform, OKX is allegedly “ignoring the prosecution’s request to freeze assets.”

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