{"id":76588,"date":"2023-04-03T11:36:00","date_gmt":"2023-04-03T08:36:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76588"},"modified":"2025-09-10T18:15:44","modified_gmt":"2025-09-10T15:15:44","slug":"south-korea-seizes-terra-team-assets-worth-205-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/south-korea-seizes-terra-team-assets-worth-205-million\/","title":{"rendered":"South Korea seizes Terra team assets worth $205 million"},"content":{"rendered":"<p>The Financial Crimes Investigation Group of the Seoul Southern District Prosecutor&#8217;s Office seized assets of early investors and Terraform Labs employees, including co-founder Daniel Shin, totaling about $205 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">South Korean prosecutors have investigated and seized more than 200 million US dollars in real estate of Terra executives and employees<\/p>\n<p>\u2014 8BTCnews (@btcinchina) <a href=\"https:\/\/twitter.com\/btcinchina\/status\/1642780919147954176?ref_src=twsrc%5Etfw\">April 3, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The procedure affected real estate, vehicles and exchange-traded assets.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;In the future, an inventory of identified assets will be conducted to recover criminal proceeds and compensate for damages,&#8221;<\/em> \u2014 a spokesperson for the prosecutor&#8217;s office said.<\/p>\n<\/blockquote>\n<p>In September 2022, <a href=\"https:\/\/u1f987.com\/en\/news\/seoul-court-issues-arrest-warrant-for-do-kwon\">issued an arrest warrant<\/a> for Terraform Labs co-founder Do Kwon and five other company employees. In October, authorities <a href=\"https:\/\/u1f987.com\/en\/news\/south-korean-authorities-detained-terraform-labs-employee\">carried out the first arrest<\/a>, but the court <a href=\"https:\/\/u1f987.com\/en\/news\/media-south-korean-court-declines-to-arrest-terraform-labs-employee\">did not remand<\/a> the detained company employee in custody.<\/p>\n<p>Prior to that, the Seoul Southern District Prosecutor&#8217;s Office <a href=\"https:\/\/u1f987.com\/en\/news\/media-report-searches-at-terraform-labs-co-founders-home\">conducted searches<\/a> at Shin&#8217;s house.<\/p>\n<p>On 23 March 2023, Montenegrin police <a href=\"https:\/\/u1f987.com\/en\/news\/terraform-labs-founder-and-ceo-do-kwon-arrested-in-montenegro\">arrested<\/a> Do Kwon, who was attempting to fly from Podgorica airport to Dubai using forged documents.<\/p>\n<p>The arrest occurred at the request of U.S. law enforcement, <a href=\"https:\/\/u1f987.com\/en\/news\/singapore-police-begin-investigation-into-do-kwon\">Singapore<\/a> and South Korea. Earlier media citing the Seoul Prosecutor&#8217;s Office reported that he <a href=\"https:\/\/u1f987.com\/en\/news\/media-reports-terraform-labs-founder-do-kwon-is-in-hiding-in-serbia\">is hiding in Serbia<\/a>.<\/p>\n<p>On 29 March it was announced that Do Kwon<a href=\"https:\/\/u1f987.com\/en\/news\/do-kwon-to-face-trial-in-montenegro-ahead-of-extradition\"> will stand trial in Montenegro<\/a> before extradition.<\/p>\n<p>The U.S. Attorney&#8217;s Office in New York <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-prosecutors-charge-do-kwon-with-fraud\">has charged<\/a> the Terraform Labs co-founder with eight counts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Crimes Investigation Group of the Seoul Southern District Prosecutor&#8217;s Office seized assets of early investors and Terraform Labs employees, including co-founder Daniel Shin, totaling about $205 million.<\/p>\n","protected":false},"author":1,"featured_media":76589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[974,852],"class_list":["post-76588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-south-korea","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76588"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76588\/revisions"}],"predecessor-version":[{"id":76590,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76588\/revisions\/76590"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76589"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}