Passports of Do Kwon and 4 Terra employees revoked

At the request of the Prosecutor's Office in South Korea, 5 out of 6 employees of the bankrupt company Terra had their passports revoked. Among them is the well-known Do Kwon. The Ministry of Foreign Affairs also wants to have them declared invalid.

It was revealed yesterday that authorities had issued arrest warrants for Do Kwon and five other people behind the Terra blockchain and its failed UST and LUNA coins.

According to Munhwa News, South Korea's Foreign Ministry is now trying to revoke the passports of five of the six Terraform Labs employees, including Kwon.

 "Among the six arrest warrants issued, applications for invalidation of passports have been received for five people, excluding foreigners," a South Korean foreign ministry official said.

According to South Korean officials, the individuals above fled to Singapore. There is just one discrepancy. South Korea has no direct agreement with Singapore, so extradition proceedings will not necessarily occur.

And so the authorities, judging by the statements, have no choice but to pressure the escapees to return and stand trial.

This event represents the last step in holding Terra executives accountable for the project's failure.