Obtaining a Revoked Kwon Passport – Cryptographic Brief

Important Takeaway

  • South Korea’s foreign ministry is seeking to revoke the passports of several Terraform Labs employees.
  • Prosecutors have urged the ministry to do so, as they recently issued an arrest warrant for these individuals.
  • Terraform Labs CEO Do Kwon and CFO Mo Han have both been named as subjects under investigation.

South Korean authorities are reported to be revoking the passports of the Tira Do Kwon leader and other employees.

Tera employees face justice

Intensify efforts to capture Do Kwon.

Yesterday it was reported that arrest warrants have been issued for Do Kwon and five other individuals behind the Terra blockchain and its failed coins, UST and LUNA.

according to Munhwa News, South Korea’s foreign ministry is now seeking to revoke the passports of five of the six Terraform Labs employees named yesterday, including Kwon.

Terra, its executives and potential employees are under investigation by the Securities and Financial Crimes Unit of the South Seoul District Prosecutor’s Office. The State Department must have acted on the Attorney General’s request.

A ministry official said, “Out of the six issued arrest warrants, requests to cancel passports of five people, excluding foreigners, were received.”

Terraform Labs CFO Mo Han was mentioned as a target in today’s report along with Kwon.

It appears that the only person mentioned in yesterday’s arrest warrant who was excluded from the passport revocation is Nicholas Platias, founder of Terraform Labs and a Greek citizen. Its current location is unclear.

Today’s report indicates that the people involved have fled from South Korea to Singapore. However, passports for Terra employees will be valid for one month. As such, prosecutors are likely to pressure people to return to South Korea and hand over their passports before then.

The State Department will send the return notice directly to the individuals. In the event that these messages are not received, they will be published on the department’s website for a period of two weeks.

Singapore does not have an extradition agreement with South Korea, and therefore is not legally obligated to return people wanted by the authorities. It is not clear what action, if any, the South Korean prosecutors will take if they do not return voluntarily.

This development represents the latest step towards holding Terra executives responsible for the project’s failure. The blockchain project initially collapsed in May as the price of crypto assets associated with the project fell rapidly. Attempts to revive the project continue regardless.

Disclosure: At the time of writing, the author of this article owns BTC, ETH, and other cryptocurrencies.

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