Do Kwon, the founder of Terraform Labs, had his passport canceled by South Korean officials on Thursday. After the collapse of terraUSD and luna erased billions from the cryptocurrency market, the conflict between Kwon and the South Korean government has only gotten worse.

While the cryptocurrency entrepreneur adamantly claims he is not on the run, South Korean investigators believe Kwon is a fugitive and are unable to locate him. In connection with Kwon, police detained one person with the last name Yu on suspicion of fraud and breaking the law governing the capital markets.

Do Kwon has been warned by South Korea to give up his passport or face having it revoked as the East Asian country steps up its efforts to bring down the cryptocurrency inventor, whose blockchain collapse earlier this year cost investors $40 billion.

The directive comes after Interpol issued a red notice last month asking law enforcement agencies all over the world to find and detain the cryptocurrency inventor. Kwon has been given 14 days by the South Korean government to abide by the new decree, according to a notification posted on the government’s website on Thursday. The directive comes after Interpol issued a red notice last month asking law enforcement agencies all over the world to find and detain the cryptocurrency inventor.

Although Kwon’s present location are unknown, he uses Twitter to update his followers on his life. He denied allegations that his cryptocurrency funds had been frozen on Wednesday in response to media reports that South Korean authorities had intensified their efforts.

I don’t get the motivation behind spreading this falsehood – muscle flexing? But to what end?

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

– Do Kwon 🌕 (@stablekwon) October 5, 2022

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