- It’s about $26 million in USD and cryptocurrency
- Not only Do Kwon, but his fellow top Terra executives had access to the money
- Assets frozen by U.S. authorities
- Do Kwon was previously convicted of document forgery in Montenegro
Prosecutors in Switzerland have frozen Do Kwon’s assets totaling $26 million. Apparently, the money was kept at Sygnum Bank. The convicted Terra co-founder lost access to them shortly after his conviction in Montenegro.
This was reported by Korean Digital Asset portal citing its source. According to the website, Swiss authorities froze Do Kwon’s assets on June 24.
This followed a request by the Securities and Exchange Commission (SEC) and the New York federal prosecutor’s office.. Earlier, U.S. authorities, as well as South Korean authorities, demanded the extradition of Do Kwon.
In the States, he is accused of fraud.. Negotiations for the convict’s extradition are still ongoing.
The funds in question were held in the accounts of the local Sygnum unit. It is the first digital asset bank in the world. It has offices not only in Europe but also in the Emirates, where Do Kwon was going to flee to.
Remind that in April information surfaced that in the accounts Sygnum co-founder Terra stored 10 thousand BTC. Notably, the $26 million in question is not solely owned by Do Kwon. Apparently, Han Chang-Jun and Nicholas Platyas also had access to the accounts.