Wednesday 28 September 2022 ▪ 2:00 pm ▪
4
min read – with
Since the collapse of Terra, several cryptocurrencies have been in the red. To name just bitcoin and ethereum. But the collapse of this ecosystem also caused Do Kwon, the founder of TerraForm Labs, to flee from authorities in South Korea and Singapore. If the latter continues to prove that he is not afraid to go in front of the bar, his actions seem to prove otherwise. Recently, South Korean prosecutors suspected a bitcoin transfer of $ 67 million from him. Or 3,313 BTC. And this, the day after an arrest warrant was issued against Kwon.
Did Do Kwon prepare to escape with as many bitcoins as possible?
The Terra (LUNA) saga will take another turn with this latest news. In fact, South Korean authorities saw the transfer of 3,313 BTC to two cryptocurrency exchanges, KuCoin and OKX.
Cointelegraph, which reported the Cryptoquant analysis, highlighted the opening of a bitcoin wallet in the name of Luna Foundation Guard (LFG). The latter would have made the transfer of bitcoin assets to the two aforementioned platforms.
The breakdown of transfers is as follows:
- 1,354 BTC to KuCoin;
- and 1,959 BTC to OKX.
Note that after a request from South Korean justice, the LFT bitcoins transferred to KuCoin were immediately frozen. For the BTC holdings sent to OKX, no confiscation was possible. The reason is that OKX ignored the requests of the authorities.
So, Do Kwon would currently have the equivalent of 38 million dollars in funds to ensure his escape.
Kwon’s contrary actions
When asked by @tier10k about the Interpol red notice, Do Kwon replied:
I tried looking for it here, I couldn’t find anything. »
This shows that the allegations against him are not official. However, recently, Interpol and South Korean Justice issued an arrest warrant against Boss Terra.
Kwon had gone so far as to say that he continues to live an ordinary life, without any authority even the name being in touch with him.
What seems strange about all of this is his cheek on Twitter. Enthusiasts of the bluebird social network kept asking him for his current location, but he did not respond precisely. However, everyone seems to be aware of his fugitive status after the competent authorities announced an arrest warrant. Moreover, withdrawing bitcoins does not bode well for the rest of the proceedings.
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