South Korean Authorities Order Do Kwon To Surrender His Passport

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Do Kwon; Photo Source: Terra (YouTube)

According to a government official, “Among the six arrest warrants issued, applications for invalidation of passports have been received for five persons excluding foreigners. All of them have already left for Singapore.”

South Korean Foreign Affairs Ministry has instructed Terra founder, Do Kwon, to return his Korean passport. They gave Do Kwon 14 days after the order date to comply. Refusal to comply will result in passport invalidation. They could also deny him the right to apply for another passport. 

According to Munhwa Ilbo – a Korean news site – five Terra staff, asides from Do Kwon, also received orders to surrender their passports. According to a government official, 

“Among the six arrest warrants issued, applications for invalidation of passports have been received for five persons excluding foreigners. All of them have already left for Singapore.”



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This recent order follows a previous request by South Korean authorities to revoke Kwon’s travel papers. It is also part of efforts by the authorities to apprehend the controversial founder. Meanwhile, the said founder has consistently denied his fugitive status. Yet, he has been staying at an unknown location in Singapore since last month.

Kwon’s legal troubles started after Terra Luna imploded. The implosion resulted in a huge loss of over $40 billion in investor funds. He currently faces an arrest warrant by a Korean court issued on September 14 and a red notice by Interpol issued on September 26. Despite the arrest warrant and Interpol notice, Kwon claimed no authorities had notified him of any investigation.

Another report by local sources came up last month. The report suggested that Kwon created a new wallet and transferred 3,313 Bitcoin (BTC) to KuCoin and OKX. The report said Korean authorities ordered the two exchanges to freeze the funds. Kwon once again denied ownership of the seized funds. 

In a Twitter post, Kwon said,

“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.” 

Meanwhile, Terraform Labs, the developer of the collapsed Terra ecosystem, insisted the prosecutors politicized the case against Kwon. According to a company representative, the prosecutors gave in to public pressure to expand the scope of securities.

Written by
Chiagoziem Bede Ikwueze

According to a government official, “Among the six arrest warrants issued, applications for invalidation of passports have been received for five persons excluding foreigners. All of them have already left for Singapore.”

South Korean Foreign Affairs Ministry has instructed Terra founder, Do Kwon, to return his Korean passport. They gave Do Kwon 14 days after the order date to comply. Refusal to comply will result in passport invalidation. They could also deny him the right to apply for another passport. 

According to Munhwa Ilbo – a Korean news site – five Terra staff, asides from Do Kwon, also received orders to surrender their passports. According to a government official, 

“Among the six arrest warrants issued, applications for invalidation of passports have been received for five persons excluding foreigners. All of them have already left for Singapore.”



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


This recent order follows a previous request by South Korean authorities to revoke Kwon’s travel papers. It is also part of efforts by the authorities to apprehend the controversial founder. Meanwhile, the said founder has consistently denied his fugitive status. Yet, he has been staying at an unknown location in Singapore since last month.

Kwon’s legal troubles started after Terra Luna imploded. The implosion resulted in a huge loss of over $40 billion in investor funds. He currently faces an arrest warrant by a Korean court issued on September 14 and a red notice by Interpol issued on September 26. Despite the arrest warrant and Interpol notice, Kwon claimed no authorities had notified him of any investigation.

Another report by local sources came up last month. The report suggested that Kwon created a new wallet and transferred 3,313 Bitcoin (BTC) to KuCoin and OKX. The report said Korean authorities ordered the two exchanges to freeze the funds. Kwon once again denied ownership of the seized funds. 

In a Twitter post, Kwon said,

“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.” 

Meanwhile, Terraform Labs, the developer of the collapsed Terra ecosystem, insisted the prosecutors politicized the case against Kwon. According to a company representative, the prosecutors gave in to public pressure to expand the scope of securities.

Written by
Chiagoziem Bede Ikwueze