Do Kwon is on the agenda of the cryptocurrency market. Described as the biggest suspect in the Terra crash, where losses amounted to $40 billion, he was sentenced to 4 months in prison last week. Some assets belonging to the controversial name were also confiscated.
According to the documents shared by South Korea-based media outlets, the assets of Do Kwon and his partners $26 million were reached. Assets stored in Switzerland as crypto money and dollars were seized at the request of official institutions. The assets are reportedly held at Switzerland-based Sygnum, known as the first digital asset bank.
According to the report, Swiss prosecutors froze assets at the request of the US Securities and Exchange Commission (SEC) and New York federal prosecutors.
It is stated that not all of the $26 million assets belong to Do Kwon, the creator of the Terra ecosystem. Han Chang-Joon, former CEO of Chai Corporation, and Nicholas Platias, ex-Terraform Labs executive, also own a portion of the assets.
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