Authorities in South Korea are making attempts at seizing Do Kwon’s travel passport as a means of returning him to the country.
The last is yet to be heard concerning the travails that have befallen the co-creator of Terraform Labs, for his involvement in the collapse of the crypto ecosystem brought about by his alleged flouting of extant laws.
Based on information made available by the South Korean Finance Ministry, there are ongoing plans to render his international passport and that of several others indicted for the same reason unfit for use. If done, this would accelerate the process of extraditing them to face prosecution.
Before this time, numerous petitions had been presented to the authorities. A South Korean court even issued a warrant to apprehend Do Kwon – he rebuffed every appeal to present himself for trial. As this proved abortive, the litigants devised new approaches, one of which is the latest decision to revoke his license to foreign travel and force him to return home.
Voiding their international passports would mean one thing – forfeiture of their right to continue sheltering in Singapore and going back to South Korea.
Kwon’s Negative International Image
Do Kwon has been in the spotlight since the crashing of the Terraform ecosystem leading to monumental financial losses of investors’ funds. Yet that was not even the only of such experiences. Available evidence shows that at some point, the United States authorities had begun an investigation into his activities for lack of transparent handling of financial dealings.
It is surprising to many how he had escaped arrest and eventual trial up till now. Would he survive this latest ordeal? The events of the coming days will tell.