South Korean investigators find $8.6 million in Sygnum Bank account of Terraform Labs CEO Do Kwon amid ongoing probe Terra
This update was provided during a press conference that took place after the indictment of several individuals without detention.
Officials explained that the large sum of money had been allocated for various purposes and was not entirely present in the Sygnum account. Some of the funds were transferred to a law firm's account as payment for legal services, leaving approximately $8.6 million in the account. Investigative agencies from both South Korea and the U.S. have requested a freeze on the Sygnum account, but it remains to be seen whose appeal will be given priority.
The Swiss authorities and banks are obligated to present evidence before any decision can be reached. The investigators reaffirmed their commitment to promptly aiding the victims and emphasized the need for Kwon's extradition to South Korea.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korean president to honor U.S. Korean War vets during state visit to WashingtonSouth Korean President Yoon Suk Yeol will award his country’s highest decoration for valor to three American veterans of the Korean War during his upcoming state visit to Washington.
Read more »
Ukraine, China main focus as South Korean president visits White HouseAhead of his state visit to the United States, South Korean President Yoon Suk Yeol spoke to The Post about his career, life and his country’s alliance with the U.S., which marks 70 years this year.
Read more »
Terra (LUNA) Not Proved to Be Security According to South Korean CourtSouth Korean media reports that, similarly to other cryptocurrencies, LUNA is not considered a security in that country
Read more »
South Korean Court Rules Luna Is Not a Security: ReportA Korean Court has deemed LUNA not to be a security, making it the first time a court has been clear on the supposed properties of the token.
Read more »
South Korean Court Rules Terra Crypto Asset LUNC Is Not a Security – Bitcoin NewsIn its recent ruling, the Seoul Southern District Court noted that it finds it challenging to view LUNC as a financial investment product.
Read more »
Braised short ribs, Maryland crab cakes on the menu for state dinner with South Korean presidentMaryland crab cakes, braised short ribs, a banana split, and a Merlot will be on the White House menu Wednesday night when President Biden and first lady Jill Biden host South Korean President Yoon Suk Yeol and his wife, Kim Keon Hee at the administration’s second state dinner.
Read more »