Seoul Prosecutors: Do Kwon and TFL still have billions of Korean won in the Swiss bank Sygnum's account

ChainCatcher news, according to Digital Asset, the Seoul Prosecutor's Office in South Korea stated that Terra co-founder Do Kwon and Terraform Labs (TFL) have billions of Korean won remaining in their account at the Swiss virtual asset bank Sygnum. (Note: One billion won is approximately 748,000 USD)

It is reported that on April 25, the Financial and Securities Crime Joint Investigation Team of the Southern District Prosecutor's Office in Seoul stated that they are continuing to track the Bitcoin owned by the Luna Foundation Guard, but some of it has been converted into cash and stored in the Signum account.

In February of this year, according to Article 172 of the U.S. Securities and Exchange Commission (SEC) documents, Do Kwon and his company Terraform Labs transferred over 10,000 BTC and converted it into cash through a Swiss bank. Since June 2022, the agency has withdrawn over 100 million USD in fiat currency from that Swiss bank. (Source link)