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Terra co-founder Do Kwon withdraws $2.15m in digital assets before bail approval, as South Korean prosecutors freeze assets worth $175m

According to reports from South Korean media outlets, Do Kwon, the co-founder of Terra, withdrew digital assets worth $2.15 million before being granted bail by a Montenegro court. Terraform Labs, co-founded by Kwon and Daniel Shin, transferred 1.8 million Convex Finance tokens worth nearly $8.7 million. Kwon reportedly withdrew USDT and LUNC stablecoins worth $400,000 and Terra Classic (LUNC) worth $150,000 from wallets managed by him. South Korean prosecutors are seeking to freeze assets belonging to Kwon and related individuals, while Kwon still has assets worth millions in a Swiss bank. Stay up-to-date on the latest crypto news and developments with our comprehensive coverage, including an updated list of crypto presale projects and Telegram channels for 2023.

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