- South Korean authorities told CNBC on Wednesday that they have asked two cryptocurrency exchanges KuCoin and OKX to freeze more than $60 million worth of bitcoin linked to Do Kwon.
- Kwon is the founder of Terraform Labs, the company behind the algorithmic stablecoin terraUSD or UST and its sister token luna, whose $60 billion collapse sent shockwaves through the market.
- South Korean authorities have sought Kwon’s arrest and claimed he is on the run. Kwon has insisted that he is not hiding.
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