Switzerland seizes $26M tied to Do Kwon, Terra

2023-6-27 23:43

Swiss authorities seized millions of dollars of crypto linked to Terraform Labs and its associates, Digital Asset said on June 24.

The news outlet said that authorities froze $26 million of Bitcoin and other digital assets held at the Zurich-based Sygnum Bank. Those assets belonged to Do Kwon and Han Chang-joon — formerly the CEO and CFO of Terraform Labs, respectively.

Digital Asset said that Swiss authorities acted to freeze the assets in question after receiving a request from the New York Federal Prosecutor’s Office and the U.S. Securities and Exchange Commission (SEC).

It also noted that previous reports from Bloomberg suggested that Kwon held $13 million in Sygnum Bank — just half of the current total seized. Bloomberg’s report, originally published on June 8, also said that Kwon had moved $29 million of cryptocurrency separate from the funds stored in the Swiss account.

Terraform Labs and its various projects collapsed in May 2022. U.S. and South Korean authorities are now pursuing separate charges against Kwon and their associates.

Kwon was sentenced to four months of imprisonment in Montenegro on June 19 after he was found guilty of using forged travel documents. Kwon and other Terra associates fled multiple countries in 2022 following their project’s failure.

The post Switzerland seizes $26M tied to Do Kwon, Terra appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Digital Rupees (DRS) на Currencies.ru

$ 6.38E-5 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $6.38E-5 - H: $6.38E-5
Капитализация $32.611k Rank 99999
Доступно / Всего 510.803m DRS

authorities digital said outlet froze june million

authorities digital → Результатов: 126


Crypto Conglomerate DCG Under Investigation By U.S. Authorities

Digital Currency Group, better known as DCG, is currently under investigation by U.S. authorities.  According to a report by Bloomberg, U.S. prosecutors in New York – specifically, the city of  Brooklyn  – are assessing the internal transfers between the multibillion-dollar crypto conglomerate and its crypto lending arm, Genesis Global Capital. The crypto lending company has […]

2023-1-9 16:08


Financial Stability Board To Set Global Standards For Crypto Regulation In 2023

Crypto regulations have been deliberated in and out of the industry. However, recent events have raised concerns about the lack of regulation on digital assets. The U.S. Securities and Exchange Commission, Congress, and some global authorities have been trying to up their game to bring a clear regulatory pathway for crypto. It is supposed to […]

2022-12-14 12:13


Riyadh to host global fintech experts as the Kingdom ramps up to transform into a truly digital economy

Centered around Saudi Arabia’s national economic development strategy and Saudi Vision 2030, Trescon brings World Fintech Show to the Kingdom, which aims to connect global fintech innovators with enterprises, investors, policymakers, government authorities, and collaborators to redefine and re-energize financial services by adopting the most impactful technologies.

2022-10-31 16:58


Russian Politicians’ Crypto Wallets Targeted By Ukraine – Hefty Reward Up For Grabs

Ukraine is exploring more means of thwarting Russia’s onslaught on their country by running after government official’s crypto wallets. Ukrainian authorities are attempting to stay ahead of crypto-savvy Russian officials who may shift to digital currency in order to evade rising efforts to financially isolate the Kremlin and its allies. Wars can be waged on […]

2022-2-28 12:30


WOW Week is a series of events dedicated to Blockchain, MetaVerse, NFT and Digital Assets. Full week 13/03-20/03, main events 14/03-15/03

After successful WOW Summit in October 2021, the GuyWay Events team started preparing WOW Week, a series of events dedicated to the current state of affairs in the FinTech, DeFi, NFT & GamiFi, Mining WOW Summit is a two-day Blockchain program that will connect global DeFi and NFT leaders with the international businesses, government authorities, tech […] Сообщение WOW Week is a series of events dedicated to Blockchain, MetaVerse, NFT and Digital Assets.

2022-1-26 12:45


All About The New Ukrainian Unicorn Weld Money And The WELD Token Sale

What is Weld Money about? Firstly, it’s the first cryptocurrency card service managed to sign agreements on the card-issuing with the CIS region’s banks and regulatory authorities. Speaking more detailed, it’s an issuer of a fiat Visa card which can be easily connected to any crypto exchanges and wallets storing digital assets and make purchases […]

2021-10-12 22:07


Cardano Investors In Japan Come Under Fire For $6 Million In Underreported Taxes

Cardano investors in Japan have come under scrutiny after authorities reported that investors in the asset had underreported their taxes from their trading activities. It was reported that multiple cities in the country had seen profits from trading in Cardano’s native token ADA but had not reported the earnings made from investing in the digital asset.

2021-10-7 02:00