Cryptocurrencies
Terra Founder Kwon Under More Pressure From Crypto Collapse
- Officials seek to revoke passport of Terraform Labs founder
- Terra crypto ecosystem suffered $60 billion wipeout this year
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Do Kwon, whose collapsed Terraform Labs cryptocurrency ecosystem sparked a meltdown in digital assets, faces being forced to return to South Korea after officials sought to have his passport revoked.
A request has been passed to the nation’s Foreign Ministry to scrap the travel document, the prosecutor’s office said Thursday. If the ministry accedes, Kwon -- who prosecutors have said is in Singapore -- in theory would have to return to Seoul within 14 days after receiving the notice of revocation.