{"id":80779,"date":"2023-06-26T17:34:15","date_gmt":"2023-06-26T14:34:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80779"},"modified":"2025-09-11T19:01:40","modified_gmt":"2025-09-11T16:01:40","slug":"media-swiss-authorities-freeze-do-kwons-crypto-assets-worth-26-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-swiss-authorities-freeze-do-kwons-crypto-assets-worth-26-million\/","title":{"rendered":"Media: Swiss authorities freeze Do Kwon&#8217;s crypto assets worth $26 million"},"content":{"rendered":"<p>The Swiss government has blocked around $26 million in Bitcoin and other cryptocurrencies tied to Terraform Labs (TFL) and its CEO Do Kwon. South Korean media <a href=\\\"https:\/\/www.digitalasset.works\/news\/articleView.html?idxno=3118\\\">Digital Asset<\/a> reports.<\/p>\n<p>According to the agency, authorities complied with requests from the U.S. Securities and Exchange Commission (SEC) and the U.S. Attorney&#8217;s Office for the Southern District of New York.<\/p>\n<p>Terraform Labs&#8217; assets were held at the crypto bank Sygnum, based in Zurich.<\/p>\n<p>It is claimed that the frozen funds belong to Kwon, the former CEO of Chai Corporation Han Chang-joon, the former head of TFL&#8217;s research group Nicolas Platias, and Terraform Labs itself.<\/p>\n<p>In September 2022 in South Korea <a href=\"https:\/\/forklog.com\/en\/news\/seoul-court-issues-arrest-warrant-for-do-kwon\">an arrest warrant for Do Kwon was issued<\/a> along with five other employees on charges including violations of capital markets law.<\/p>\n<p>On March 23, Montenegro police <a href=\"https:\/\/forklog.com\/en\/news\/terraform-labs-founder-and-ceo-do-kwon-arrested-in-montenegro\">arrested<\/a> an entrepreneur as he attempted to depart from Podgorica airport to Dubai with forged documents. In May he and former TFL chief financial officer Han Chang-joon <a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-pleads-not-guilty-to-document-forgery\">pleaded not guilty<\/a>.<\/p>\n<p>South Korea <a href=\"https:\/\/forklog.com\/en\/news\/south-korea-urges-extradition-of-do-kwon-to-his-homeland\">has urged Montenegro to extradite<\/a> Kwon to his homeland. The United States also seeks the extradition of the head of TFL, where he faces fraud charges brought by the SEC and <a href=\"https:\/\/forklog.com\/en\/news\/u-s-prosecutors-charge-do-kwon-with-fraud\">the U.S. Attorney&#8217;s Office for the Southern District of New York<\/a>.<\/p>\n<p>In June, Kwon was released <a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-and-han-chang-joon-released-on-bail-in-montenegro\">under house arrest<\/a>, with a bail of \u20ac400 000 ($436 000).<\/p>\n<p>Later, the court in Podgorica <a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-found-guilty-of-document-forgery\">found<\/a> the founder of TFL guilty of document forgery in an attempt to leave Montenegro. He was sentenced to four months in prison.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Swiss government blocked around $26 million in Bitcoin and other cryptocurrencies linked to Terraform Labs (TFL) and its CEO Do Kwon.<\/p>\n","protected":false},"author":1,"featured_media":80780,"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":[468,852],"class_list":["post-80779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-switzerland","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80779","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=80779"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80779\/revisions"}],"predecessor-version":[{"id":80781,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80779\/revisions\/80781"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80780"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}