Do Kwon Transferred $7M to Korean Law Firm Before Terra's Collapse: Report
Main page News, South Korea, scam, Regulations, Terra

Disgraced crypto entrepreneur Do Kwon sent $7 million to a South Korean firm before the collapse of the Terra ecosystem, a local news outlet KBS News has learned, citing people familiar with the matter.

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According to the report, Kwon transferred the money to lawyers at Kim & Chang, an international law firm headquartered in Seoul. The move might indicate Kwon's awareness about the upcoming collapse as he apparently wanted to prepare to face legal problems, the report notes. Moreover, KBS News says Kim & Chang's representatives visited Kwon and Terraform's former CFO, Han Chang-joon, even after they had been arrested.

SEC Files Charges Against Terraform Labs CEO

The Montenegrin authorities charged Kwon and Chang-joon for forging documents. The two have been arrested in Podgorica airport as they were trying to board a flight to Dubai. The police had found forged Costa Rican passports and a separate set of Belgian passports during the encounter.

Following the arrest, the US District Court in Manhattan filed an eight-count fraud indictment against Kwon.

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