While claiming not to be on the run and cooperating with the authorities, Do Kwon used a wallet in the name of the Luna Foundation Guard (LFG) to transfer more than 3,300 BTC to 2 different wallets hosted on OKX and KuCoin exchanges. South Korean authorities have ordered exchanges to freeze the funds, and KuCoin has already cooperated.
Do Kwon transfers almost $70 million in the form of Bitcoin (BTC)
The Do Kwon soap opera continues to accelerate: according to our colleagues from CoinDesk Korea, the founder of Terra (LUNA) transferred more than 3,300 Bitcoins (BTC) to 2 different wallets hosted on exchanges.
Specifically, according to available information, a wallet in the name of the 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 competent authorities, namely the Seoul District Attorney’s Office and the Financial Crimes Investigation Team, ordered the 2 exchanges concerned to freeze the funds.
For its part, KuCoin 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 at the current price, would have completely ignored the request from the Korean authorities.
So things seem to be getting worse for Do Kwon, who was placed on Interpol’s red list yesterday, effectively becoming an international fugitive. However, the principal concerned expressed himself via Twitter to affirm that he was not on the run, contrary to what could be said.
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, therefore.