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Assets tied to Kwon worth 2.33 trillion won were frozen while he awaits trial in Montenegro and faces eight criminal charges in the United States.

The frozen assets include an apartment complex, an officetel, several imported cars, and various financial assets.

Crypto watchers have noticed the reactivation of two wallets connected to Do Kwon, the entrepreneur and alleged criminal who faced a collapse of his crypto empire in May 2022, resulting in investor losses of around $40 billion. The two wallets reportedly sent over 2.3 million LUNA tokens to Binance, sparking intrigue within the cryptocurrency community.

South Korean prosecutors have frozen assets worth US$176 million belonging to Kwon Do-Hyung, CEO of Terraform Labs, over allegations that he defrauded investors in the Terra-Luna project and related decentralized finance services. This comes just before the court hearing for Kwon's travel document forgery charges in Montenegro is set for May 11.

While a large part of the cryptocurrency market is struggling with declines or trading sideways at best, Terra Classic (LUNC) has been recording increases, corresponding with the rising anticipation of a major upgrade that would allow technological parity with LUNA 2.0.

The assets worth 233.3 billion won, equivalent to $176 million of Terraform Labs CEO Kwon Do-hyung (Do Kwon) have been freezed.

Today marks the anniversary of Do Kwon's infamous tweet, a message that has since become a cautionary tale and meme within the crypto community. On May 9, 2022, Kwon, Terra's founder, tweeted, "Deploying more capital - steady lads," amid the turmoil of Terra's collapse.

Quick Take One year after the de-pegging of UST, it continued to lose its peg against the dollar. We also got the infamous tweet from Do Kown: “Steady Lads, deploying more Capital.

The crypto community was left stunned when Terraform Labs, co-founded by Do Kwon and Daniel Shin, executed a substantial transfer of Convex Finance (CVX) tokens to another wallet on May 9.

Terraform Labs, co-founded by Do Kwon and Daniel Shin, transferred Convex Finance (CVX) tokens worth millions to another wallet on Tuesday. The transfer has come almost a year after the Terra-LUNA crisis that duped $40 billion in investors' money and started a crackdown of the crypto market.

LUNA breaks down to an all-time low as Do Kwon is looking at 40 years of prison in the motherland.

Terra's co-founder might serve up to 40 years in prison. After fleeing from regulators, Terra's Do Kwon was finally arrested in Montenegro in March, Interpol confirmed.

According to reports, the prosecutors handling the case of Do Kwon, the founder of the now-defunct Terraform Labs, have announced that they recommend Kwon's extradition to his home country of South Korea. Montenegro's authorities are detaining Kwon over accusations of traveling with a counterfeit passport.

A South Korean prosecutor revealed that Terra founder Do Kwon faces more than 40 years imprisonment if convicted.

Do Kwon, co-founder and former CEO of now-defunct Terraform Labs, is facing a jail term of up to 40 years in South Korea, the country where he committed most of his crimes.

South Korean authorities are advocating for the extradition of Terraform Labs co-founder and former CEO, Do Kwon, in relation to the collapse of TerraUSD (USTC) and LUNA token.

South Korean authorities are looking to extradite embattled Terra (LUNA) founder Do Kwon months after he was found in the Eastern European nation of Montenegro.

South Korean prosecutors are pushing for him to face criminal charges in his home country, claiming it would be best for victims.

The investigation into the TerraUSD crypto crash has taken an important turn, as the South Korean prosecutor leading the case has called for the extradition of crypto entrepreneur Do Kwon to his home country. The crash wiped out $40 billion from digital currency markets, leaving investors reeling.

Do Kwon could face 40 years in prison if prosecuted and found guilty by a court in his home country of South Korea.Media reports confirmed that authorities in South Korea and the United States are contending over extradition rights after Montenegrin police arrested the Terraform Labs founder.An investigator who has led the probe into how Terraform Labs collapsed opined that prosecuting Kwon in South Korea is “more efficient”. Media reports confirmed that authorities in South Korea and the United States are contending for the right to extradite Do Kwon after Montenegrin police arrested the Terraform Labs founder in March.

South Korea is vying with U.S. prosecutors to extradite Mr. Kwon from Montenegro.

The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities.

Reports indicate that South Korean prosecutors are adamant that charging Do Kwon in his home country is the best way to serve justice to Terra network victims

Cryptocurrency mogul Do Kwon, infamous for his involvement in the Terra Luna coin fiasco, might be facing up to 40 years in jail, per a recent report by The Wall Street Journal.