Terra founder Do Kwon denied allegations that his assets were frozen by South Korean authorities.
Earlier in the day, South Korea-based media outlet News1 claimed that prosecutors in the country had frozen $39.6 million in Kwon’s crypto holdings.
Do Kwon Denies Rumors
According to News1’s claim, South Korean authorities asked OKEX and KuCoin exchanges to freeze Do Kwon’s assets last month.
After these news, Kwon explained that he did not have time to trade and did not use the two crypto exchanges mentioned.
I don't get the motivation behind spreading this falsehood – muscle flexing? But to what end?
Once again, I don't even use Kucoin and OkEx, have no time to trade, no funds have been frozen.
I don't know whose funds they've frozen, but good for them, hope they use it for good 🙏 https://t.co/gSucKfqsxj
— Do Kwon 🌕 (@stablekwon) October 5, 2022
The Terra founder also emphasized that he will work to get them back if the authorities freeze their assets.
Do Kwon continued to target politicians in the country, accusing the South Korean government of arming state institutions “against its own people.”
Terraform Labs had stated that the lawsuit against the company was also a political lawsuit.
Interpol recently issued a red notice for Kwon. Allegedly, Kwon fled to Singapore after his arrest warrant was issued. Singaporean officials, on the other hand, announced that Kwon is not in the country.
Terraform Labs continues to refuse to disclose Kwon’s location due to security risks.
However, Kwon denied that he had fled, stating that he went for a walk and toured shopping malls.
