While claiming not to be on the run and cooperating with authorities, Do Kwon used a wallet in the name of Luna Foundation Guard (LFG) to transfer more than 3,300 BTC to 2 different wallets hosted on the exchanges OKX and KuCoin. South Korean authorities have ordered the exchanges to freeze the funds, and KuCoin has already cooperated.
Do Kwon transfers almost $70 million in Bitcoin (BTC)
The Do Kwon soap opera continues to accelerate: according to our colleagues at CoinDesk Korea, the founder of Terra (LUNA) has transferred over 3,300 Bitcoins (BTC) to 2 different wallets hosted on exchanges.
Specifically, according to the information available, a wallet in the name of Luna Foundation Guard (LFG) was created on September 15 on Binance, the day after an arrest warrant was issued against him. In the days following the creation of this account, 3,313 BTC were transferred to the OKX and KuCoin exchanges.
The relevant authorities, namely the Seoul District Prosecutor’s Office and the Financial Crimes Investigation Team, ordered the two exchanges concerned to freeze the funds.
KuCoin, on the other hand, reacted quickly and froze the 1,354 BTC sent to the wallet concerned. On the contrary, OKX, which would have received 1,959 BTC, or 39.4 million dollars at the current rate, would have completely ignored the request from the Korean authorities.
Things seem to be getting worse for Do Kwon, who was placed on Interpol’s red list yesterday, effectively becoming an international fugitive. However, Do Kwon took to Twitter to say that he was not a fugitive, contrary to reports.
We are in the process of defending ourselves in multiple jurisdictions – we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months
– Do Kwon (@stablekwon) September 17, 2022
“We are defending ourselves in multiple jurisdictions – we have set ourselves extremely high standards of integrity and look forward to clarifying the truth over the coming months. “
A case to follow, then.
