Do Kwon Denies Report That South Korean Prosecutors Froze $39.6M of His Crypto
"I don't know whose funds they've frozen, but good for them, hope they use it for good," he tweeted.
Do Kwon, the CEO of Terraform whose failed stablecoin project rocked markets earlier this year, denied a media report that South Korean prosecutors have frozen 56.2 billion won ($39.6 million) of his cryptocurrency assets.
"I don't get the motivation behind spreading this falsehood – muscle flexing? But to what end?" Kwon tweeted Wednesday in response to CoinDesk's story summarizing the News1 report. "I don't know whose funds they've frozen, but good for them, hope they use it for good."
I don't get the motivation behind spreading this falsehood - muscle flexing? But to what end?
— Do Kwon 🌕 (@stablekwon) October 5, 2022
Once again, I don't even use Kucoin and OkEx, have no time to trade, no funds have been frozen.
I don't know whose funds they've frozen, but good for them, hope they use it for good 🙏 https://t.co/gSucKfqsxj
Last month, CoinDesk Korea reported that authorities in South Korea had asked crypto exchanges OKX and KuCoin to freeze 3,313
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