South Korean Prosecutors Seek to Freeze $13 Million in Funds Held by Swiss Banks Linked to Do Kwon

South Korean prosecutors are trying to freeze $13 million in funds held by Swiss banks linked to Terraform Labs co-founder Do Kwon after he transferred tens of millions of dollars from entities linked to the Terra project since late March, according to Bloomberg, with Dan Sunghan, director of the Financial Crimes Investigation Bureau of the Southern Seoul District Court, saying in an interview that the $29 million worth of cryptocurrency was likely transferred by Do Kwon himself or at his direction. Sunghan said in an interview that the $29 million worth of cryptocurrency was likely transferred by Do Kwon himself or at his direction.