Skip to content

South Korea Requires Terra Founder to Notify When He’s Back

Do Kwon

Do Kwon

Photographer: Woohae Cho/Bloomberg

South Korean prosecutors confirmed that they would require Do Kwon, the founder of cryptocurrency startup Terraform Labs, to notify authorities when he returns to the country, as they investigate allegations of illegal activity behind the collapsed stablecoin TerraUSD.  

DongA Ilbo earlier reported that the Ministry of Justice had approved prosecutors’ requests that Kwon be required to notify authorities upon entering South Korea. Authorities also banned Kwon’s co-founder Daniel Shin from leaving the country, the report said, citing unidentified sources.