South Korean authorities have reportedly frozen $40 million in crypto belongings, which includes bitcoin, allegedly belonging to Luna founder Do Kwon. On the other hand, Kwon denied that any funds of his have been frozen. “I never even use Kucoin and Okex, have no time to trade, no cash have been frozen,” he insisted.
Prosecutors Say They’ve Frozen Do Kwon’s Crypto, Together with Bitcoin (
$85,965.00 )
South Korean prosecutors have reportedly frozen nearly $40 million in crypto belongings allegedly belonging to Terraform Labs co-founder Kwon Do-hyeong (also recognised as Do Kwon). Citing Korean publication News1, journalist Colin Wu tweeted Wednesday:
South Korean prosecutors have frozen $39.66 million of crypto assets, which include BTC, owned by Do Kwon by way of two exchanges. Do Kwon and LFG beforehand denied attempting to transfer their 3,313 BTC after getting issued an arrest warrant.
The cash had been frozen at cryptocurrency exchanges Kucoin and Okx, the publication observed, including that the two buying and selling platforms have agreed to freeze Kwon’s crypto at the ask for of the prosecution.
South Korean prosecutors exposed previous month that they were searching for to freeze 3,313 bitcoins tied to Kwon that ended up transferred to Kucoin and Okx from a wallet allegedly connected to Luna Basis Guard (LFG). Having said that, the corporation denied the allegation, insisting that it “hasn’t created any new wallets or moved BTC or other tokens held by LFG considering the fact that May 2022.”
Pursuing the information of the prosecutors freezing $39.66 million in crypto belonging to him, Kwon took to Twitter to deny that the frozen resources are his. “I really do not get the enthusiasm powering spreading this falsehood – muscle flexing? But to what conclusion?” the Luna founder tweeted Tuesday, including:
Once yet again, I never even use Kucoin and Okex, have no time to trade, no cash have been frozen. I do not know whose resources they’ve frozen, but fantastic for them, hope they use it for very good.
A South Korean court issued an arrest warrant for Kwon on Sept. 14. He is accused of fraud after the collapse of the cryptocurrency luna (now referred to as luna common (LUNC)) and stablecoin terrausd (UST). Also, Interpol has issued a Crimson Recognize for him. “A Pink Discover is a request to law enforcement around the world to track down and provisionally arrest a individual pending extradition, surrender, or equivalent authorized motion,” Interpol’s website aspects, introducing that “Red Notices are issued for fugitives wished possibly for prosecution or to provide a sentence.”
The Luna founder’s whereabouts are currently unknown. He was considered to be in Singapore but the Singapore law enforcement pressure just lately mentioned that he is at present not in the metropolis-condition. Kwon has preserved that he is not “on the run,” tweeting lately that he is “making zero energy to disguise.”
Do you feel South Korean prosecutors have frozen Do Kwon’s crypto? Enable us know in the comments section down below.
Kevin Helms
A college student of Austrian Economics, Kevin discovered Bitcoin ( $85,965.00 ) in 2011 and has been an evangelist at any time because. His interests lie in Bitcoin ( $85,965.00 ) protection, open up-resource systems, community outcomes and the intersection among economics and cryptography.
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