South Korean prosecutors have filed for a court order to freeze $5.3 million worth of assets owned by Do Kwon, the co-founder of Terraform Labs, in the country, according to Yonhap News.

The move comes after an investigation into fraud and tax evasion related to the Terra-LUNA collapse, which wiped out almost $40 billion in market value in May 2022.

Prosecutors are also tracking down potential criminal proceeds generated by Kwon overseas and parked in various cryptocurrency exchanges and Swiss bank accounts.

Prosecutors claim that Kwon, along with seven other Terraform employees, defrauded investors of around $314.2 million. Shin, who co-founded Terraform Labs with Kwon, earned over $115 million, while Kwon earned $69 million from the collapse.

In addition to the charges in South Korea, Kwon is facing eight counts of fraud in the United States, including securities, commodities, and wire fraud. The US and South Korea are both seeking to extradite Kwon, who was arrested in Montenegro in March, after 11 months on the run. Kwon is also facing charges of traveling with fake documents in Montenegro.

Last week, authorities froze assets worth around $116.5 million belonging to Daniel Shin, co-founder of Terraform Labs with Kwon.

The assets included land, buildings, and cars. Prosecutors had earlier claimed that Kwon had “almost no property” in South Korea, as he had converted his assets to Bitcoin (BTC) and transferred them to foreign exchanges like Binance. Prosecutors had contacted Binance to freeze Kwon’s assets on the exchange.