Kwon Do-hyung, the Terraform Labs founder and crypto fugitive, who is facing fraud charges in both the U.S. and South Korea, reportedly has no identifiable assets in his home country.
South Korean prosecutors say that Kwon, along with nine former and current executives of Terraform Labs, illegitimately amassed US$314.2 million from the project, out of which 91.4 billion won belonged to Kwon.
However, prosecutors have confirmed that none of his assets are within their jurisdiction. Meanwhile, local prosecutors have provisionally seized assets belonging to Terraform co-founder Shin Hyun-Seung, including real estate and imported automobiles.
The authorities have also requested Binance and other global exchanges to freeze cryptocurrencies that they allege belong to Shin. South Korea and the U.S. have both sent extradition requests to the Montenegro authorities for Kwon.
