Do Kwon Passport to Expire on Oct. 19, Singapore Can Deport Him

Oct 10,2022
KingData News: According to News1, the Joint Investigation Unit for Financial and Securities Crimes of the Ministry of Foreign Affairs and the Seoul South District Prosecutor's Office said that Terra founder Do Kwon's passport return order was announced on October 5 and that if he does not return his passport to the Ministry of Foreign Affairs or the passport agency or foreign embassy within 14 days of the announcement, his passport will lose its validity under Article 13 of the Korean Passport Act. This means that after October 19, Do Kwon's passport will lose its validity and become an illegal immigrant, and Singapore can deport Do Kwon.
This indicator provides follow-up on the depg of Terra's stablecoin UST on May 8th. Terra's stablecoin UST briefly lost its peg to the U.S. dollar on May 8th, dipping as low as $0.985. The depeg event came after a series of multi-million dollar UST selloffs as one account traded about $85 million worth of UST for USDC on Curve Finance, while another user reportedly sold $108 million worth on Binance. UST posted a slight recovery shortly after Terraform Labs CEO Do Kwon posted a tweet calling out the stablecoin's critics.