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Swiss Prosecutors Freeze $26M Worth of Do Kwon Assets Following his Prison Sentence

Swiss prosecutors have reportedly frozen $26 million in cryptocurrencies and US dollars tied to Terraform Labs’ co-founder – Do Kwon, and some of his associates. The former crypto mogul purportedly stored those assets at Sygnum Bank. According to the US SEC, he used a Swiss banking institution to cash out 10,000 BTC after the LUNA/UST collapse in 2022. As reported by a Korean media outlet, the Swiss officials froze the funds at the request of the New York Federal Prosecutors Office and the Securities and Exchange Commission (SEC) in Switzerland. According to the information, the $26 million worth of crypto and USD are not owned only by Kwon.

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