Terra founder Do Kwon to lose his South Korean passport, while he denies $40B crypto freeze

According to a government-issued document, the former executive could lose his South Korean citizenship and face charges for Terra Luna fraud

Do Kwon Could Lose His Passport

Do Kwon and five others have been accused of breaching South Korea’s capital-markets law.

Additionally, the South Korean newspaper reported that prosecutors in Seoul have frozen an additional 56.2 billion won of assets they claim are Kwon’s.

” I don’t know whose funds they’ve frozen but good for them, hope they use it for good,” said Do Kwon.

LUNC Price Under Pressure

Terra Luna Classic (LUNC) token had a turbulent week and lost 20% of its valuation month-to-date. 

However, the declining trading volumes showed insufficient determination from LUNC bulls to pump the price.