{"id":67213,"date":"2022-09-15T14:52:02","date_gmt":"2022-09-15T11:52:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67213"},"modified":"2025-09-07T05:27:22","modified_gmt":"2025-09-07T02:27:22","slug":"seoul-prosecutors-seek-revocation-of-passport-for-terra-founder-do-kwon","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/seoul-prosecutors-seek-revocation-of-passport-for-terra-founder-do-kwon\/","title":{"rendered":"Seoul prosecutors seek revocation of passport for Terra founder Do Kwon"},"content":{"rendered":"<p>Prosecutors from the Southern District of Seoul have asked the local Ministry of Foreign Affairs to revoke the passports of five people, including Terraform Labs (TFL) CEO Do Kwon. <a href=\"http:\/\/www.munhwa.com\/news\/view.html?no=2022091501039921275002\">Local media<\/a> reported.<\/p>\n<p>In its request, the agency cited the Passport Act. It imposes restrictions on issuing identification documents to a person who has been issued an arrest warrant.<\/p>\n<p>The Foreign Ministry is also expected to revoke previously issued passports of the accused.<\/p>\n<p>The sanctions will not affect the co-founder of TFL Nicolas Plaki\u00e1s, who is a foreign national.<\/p>\n<p>Because revoking passports may take about a month, media suggested that authorities would continue pressuring Kwon to return to South Korea.<\/p>\n<p>According to the latest reports, the Terraform Labs CEO was in Singapore.<\/p>\n<p>On September 14, a Seoul court issued <a href=\"https:\/\/forklog.com\/en\/news\/seoul-court-issues-arrest-warrant-for-do-kwon\">an arrest warrant for Do Kwon<\/a> and five others on charges including violations of South Korea&#8217;s Capital Markets Act.<\/p>\n<p>The Terra ecosystem collapse had serious consequences for the digital-asset market.<\/p>\n<p>In June 2022, investors <a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-accused-of-false-statements-about-terrausds-stability\">accused Terraform Labs and Do Kwon personally<\/a> of false statements regarding the stability of UST.<\/p>\n<p>In the same month, the company&#8217;s CEO <a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-i-do-not-consider-myself-a-fraudster-and-i-believe-in-the-success-of-terra-2-0\">stated that he did not consider himself a fraud<\/a>. He also<a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-denies-allegations-of-withdrawing-2-7-billion-from-the-terra-ecosystem-ahead-of-its-collapse\">refuted allegations of withdrawing $2.7 billion<\/a> from the Terra ecosystem before its collapse.<\/p>\n<p>In July, the Southern District Prosecutors&#8217; Office <a href=\"https:\/\/forklog.com\/en\/news\/media-report-searches-at-terraform-labs-co-founders-home\">conducted searches<\/a> at the home of Terraform Labs co-founder Daniel Shin and at the office of an early investor in the firm Dunamu &amp; Partners.<\/p>\n<p>Earlier it was reported that the people behind the UST stablecoin <a href=\"https:\/\/forklog.com\/en\/news\/media-sec-opens-investigation-into-terrausd-ust-stablecoin\">has taken an interest in<\/a> the U.S. Securities and Exchange Commission.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prosecutors from the Southern District of Seoul asked the local Ministry of Foreign Affairs to revoke the passports of five people, including Terraform Labs CEO Do Kwon.<\/p>\n","protected":false},"author":1,"featured_media":67214,"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":[1930,974,852],"class_list":["post-67213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-prosecutor-office","tag-south-korea","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=67213"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67213\/revisions"}],"predecessor-version":[{"id":67215,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67213\/revisions\/67215"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/67214"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=67213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=67213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=67213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}