Terraform Labs founder Do Kwon was caught and arrested in Montenegro in recent weeks.
While the extradition process of Kwon, who left millions of victims behind with the collapse of the 60 billion dollar LUNA, continues, some reports were published in the South Korean local press about the money Kwon smuggled out.
Since the first day of the investigation, South Korean prosecutors have been searching for those responsible and tracking the smuggled money.
It is noteworthy that while the prosecution has seized 414.5 billion won ($320 million) worth of assets belonging to Terra executives so far, the amount of assets belonging to Do Kwon is "0". Prosecutors determined that Do Kwon had no repossessed assets in South Korea.
According to the report, Kwon was found to have no property in South Korea.
The prosecution stated that Kwon converted most of his proceeds from the crime into Bitcoin and transferred it to an offshore cryptocurrency exchange.
KBS reports that the prosecution is working closely with Binance on the matter and has asked Binance to help prevent Kwon from withdrawing the cryptocurrency.
