- Do Kwon might get his status changed to “illegal immigrant”.
- The Ministry of Foreign Affairs ordered Do Kwon to return his passport.
- The passport will lose its validity in accordance with Article 13 of the Passport Act, if it’s not returned before Oct19.
Terra Co-founder Do Kwon might get his status changed to “illegal immigrant” after Oct 19. Last week, The Ministry of Foreign Affairs and the Seoul Southern District ordered Do Kwon to return his passport.
According to news1, a South Korean media house, it reported that the prosecution recently froze about 95 billion won in Kwon’s assets and started a full-scale investigation of team leader of Terraform Labs, who is blamed for the crash.
Furthermore, the South Korean government claimed that if the passport is not returned to the Ministry of Foreign Affairs, passport management agency, or diplomatic mission abroad within 14 days after the announcement, the passport will lose its validity in accordance with Article 13 of the Passport Act.
Last month, Interpol issued a red wanted order for Kwon. But, Do Kwon still denies the charges made by the government, even after the charges and his assets being frozen.
Last week, Do Kwon tweeted:
I don’t get the motivation behind spreading this falsehood – muscle flexing? But to what end? Once again, I don’t even use Kucoin and OKEx, have no time to trade, and no funds have been frozen. I don’t know whose funds they’ve frozen, but good for them, hope they use it for good.
At the time of writing, LUNA is priced at $2.53 with a surge of 1.30% in 24 hours and a hike of 3.87% in seven days. There are currently 127,475,474.31 LUNA in circulation and has a $164,737,741 volume with a hike of 171.50% in 24 hours.
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