Do Kwon lawyers received $7 million before Terra collapse: Report

South Korean prosecutors say Terraform Labs CEO Do Kwon transferred 9 billion won ($7 billion) to top South Korean law firm Kim & Chang just before the Terra ecosystem’s dramatic collapse. Confirmed.

Kwon’s decision to transfer millions of dollars to a law firm was flagged as a deliberate move by prosecutors. report From KBS News.

Prosecutors are trying to link Mr. Kwon’s bad faith to an advance payment to a law firm, but they believe the information will help in the ongoing fraud case. In addition, Kim & Chang’s attorneys visited Montenegro, where Kwon and he met Terraform’s former chief financial officer, Han Chang-joon.

Earlier, Kwon was arrested at Podgorica airport in Montenegro for trying to go to Dubai using forged documents. After Kwon’s arrest, US and South Korean authorities are seeking his extradition. However, the court has not yet decided.

Related: Terra co-founder in South Korean crosshairs after Dokwon’s arrest

On April 7, it was revealed that South Korean prosecutors suspected Kwon of converting illegal funds from Terra (LUNA) to Bitcoin (BTC). Prosecutors have asked Binance to stop all withdrawal requests related to Kwon.

In total, prosecutors have identified 414.5 billion won ($314.2 million) in illegal assets related to Terraform Labs co-founder Kwon and associates.

“We have provided the requested assistance to LE authorities in South Korea. We are unable to comment on the ongoing LE investigation, so please contact prosecutors for further comment,” a Binance spokesperson said. told Cointelegraph.