South Korean Ministry to Invalidate Terra Labs Do Kwon Passport

On Wednesday, the South Korean ministry of foreign affairs announced that it would take action to invalidate the passport of Do Kwon, CEO and Co-founder of Terra Labs, following up on a statement made a month ago.

The Official gave Do Kwon 14 Days to Return The Passport

The government stated that the notice had to be published due to an “inability to deliver” the passport return order.

As described in an attached PDF document, Kwon may be denied reissue of a passport due to the move.

Read More: South Korea Is Looking To Freeze $62 Million Worth Of Do Kwon’s Bitcoin

“Our Department would like to send a ‘Notice of Order for Return of Passport’ to you by registered mail,” the notice said. “… we inform you that the validity of your passports will be invalidated and administratively invalidated.”

In most cases, if a passport has been invalidated, Kwon would not be able to leave South Korea. If he’s not in South Korea, it will be difficult for him to travel abroad. A 14-day period was given by officials for Kwon to return the passport after receiving the notice.

Do Kwon Denies The South Korean Accuse

The news comes after a South Korean court has ordered the freezing of nearly $40 million worth of crypto assets they say are related to Kwon.

Later, Kwon tweeted that he had not used the exchanges in question and the funds did not belong to him.

Related: Terra Labs Executive & Key Aide Of Do Kwon Arrested By Prosecutors

“ 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, no funds have been frozen. I don’t know whose funds they’ve frozen, but good for them, hope they use it for good ,” tweeted Do Kwon. 

As well, he said he couldn’t find an Interpol “Red Notice” on the agency’s public website after prosecutors told reporters a Red Notice had been issued. As a result of an outstanding arrest warrant from South Korea and statements from Singapore authorities that he could not be located, he denied claims that he was “on the run.”

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Jamilatul Mahmudah

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