Prosecutors in South Korea have frozen 56.2 billion won ($39.6 million) of cryptocurrency assets belonging to Kwon Do-hyung, more commonly known as Do Kwon, the CEO of Terraform Labs, the firm behind the failed Luna stablecoin project, according to Korean media outlet News1. Late last month, authorities in South Korea requested crypto exchanges OKX and KuCoin to freeze some 3,313 bitcoin (BTC), worth around $67 million, tied to Do Kwon. "I don't get the motivation behind spreading this falsehood – muscle flexing? But to what end?" Do Kwon tweeted Wednesday in response to CoinDesk's story about the News1 report. ... (full story)