South Korean Court Freezes Do Kwon’s Crypto Assets in Hong Kong

The South Korean court has issued an order to freeze a significant portion of Do Kwon’s crypto assets, marking a major step forward in the ongoing legal proceedings related to Terraform Labs. The order freezes approximately $11.7 million worth of cryptocurrency held by Do Kwon in Hong Kong through Hex Trust, a custodian firm. This action is part of South Korean authorities’ efforts to recover funds lost following the collapse of Terraform Labs and its associated cryptocurrencies. ;