{"id":53126,"date":"2023-06-26T10:31:32","date_gmt":"2023-06-26T14:31:32","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=53126"},"modified":"2023-06-26T12:04:29","modified_gmt":"2023-06-26T16:04:29","slug":"us-sec-moves-to-seize-do-kwons-cryptocurrency-assets","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/us-sec-moves-to-seize-do-kwons-cryptocurrency-assets\/","title":{"rendered":"US SEC Moves To Seize Do Kwon’s Cryptocurrency Assets"},"content":{"rendered":"\n

The US SEC urged Swiss prosecutors to freeze Terra founder Do Kwon's crypto assets in the digital asset<\/a> bank Sygnum.<\/p>\n\n\n\n

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US SEC Moves To Seize Do Kwon's Cryptocurrency Assets<\/figcaption><\/figure>\n\n\n\n

The New York Federal Prosecutors Office and the United States Securities and Exchange Commission (SEC)\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> requested Swiss prosecutors to hold crypto assets and fiat currency associated with Terraform Labs and co-founder Do Kwon's in digital asset bank Sygnum.<\/p>\n\n\n\n

Dentons, a prominent law firm representing Terraform Labs and co-founder Do Kwon, has filed additional documents to have the US SEC lawsuit dismissed. By July 14<\/strong>, Judge Jed Rakoff will rule on the motion to dismiss the case.<\/p>\n\n\n\n

Swiss prosecutors have seized crypto and fiat assets worth $26 million. According to reports, it belongs to TFL, Do Kwon, former CFO Han Chang-Joon, and former TFL research director Nicholas Platias. <\/p>\n\n\n\n

US and South Korean prosecutors previously stated that Do Kwon sent 10,000 BTC to a Swiss account subsequently identified as belonging to Sygnum, and in addition, the US SEC asserted that Do Kwon cashed out over $100 million<\/strong> in BTC following the Terra-LUNA Crisis of 2022.<\/p>\n\n\n\n

The Montenegrin Court Sentences Do Kwon to Four Months in Jail<\/h2>\n\n\n\n

Do Kwon and Han Chang-Joon attempted to board a flight to Dubai in March using forged Costa Rican passports, a Montenegro court ruled on June 19; both were sentenced to four months in prison.<\/p>\n\n\n\n

In the meantime, a Montenegrin superior court seeks to expeditiously extradite the two South Korean nationals to their home country. According to South Korean prosecutors, if extradited to South Korea, does Kwon face 40 years in prison?<\/p>\n\n\n\n

According to a Montenegrin news source,<\/use><\/svg><\/span><\/a> Do Kwon is isolated from the other Spuz penitentiary inmates.<\/p>\n\n\n\n

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\u201cNow the guards open his cell twice a day to let him stretch his legs in the courtyard of the prison in Spuz, an overcrowded facility located ten kilometers from Podgorica.\u201d<\/em><\/p>\n<\/blockquote>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The US SEC urged Swiss prosecutors to freeze Terra founder Do Kwon’s crypto assets in the digital asset bank Sygnum. The New York Federal Prosecutors Office and the United States Securities and Exchange Commission (SEC) requested Swiss prosecutors to hold crypto assets and fiat currency associated with Terraform Labs and co-founder Do Kwon’s in digital […]<\/p>\n","protected":false},"author":53,"featured_media":53158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[7301,5747,5822],"class_list":["post-53126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-do-kwon","tag-sec-2","tag-terra"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/god-abeg.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/53126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=53126"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/53126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/53158"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=53126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=53126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=53126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}