Prosecutors in South Korea are asking for the freezing of 3,313 Bitcoins on two crypto exchanges that were allegedly linked to each other. luna founder Do Kwon. They moved the coins The arrest warrant was issued by a South Korean Court shortly after the Terraform Labs cofounder. Luna Foundation Guard denied that the coins were transferred.
Korean authorities ask crypto exchanges to freeze bitcoin
South Korean officials asked Kucoin and Okx cryptocurrency exchanges to stop the freezing of 3,313 bitcoins allegedly connected to Terraform Labs cofounder Kwon Dohyung. Also known as Do Kwon. The coins were transferred to the trading platforms soon after a warrant was issued for Kwon’s arrest in South Korea.
On Tuesday, an official at the Seoul Southern District Prosecutors’ Office confirmed to Bloomberg that requests have been sent to the two cryptocurrency exchanges to freeze the 3,313 BTC.
Cryptoquant reports that the coins were taken from a wallet linked to Luna Foundation Guard, (LFG), on Sept. 15 and transferred to trading platforms. According to Cryptoquant, the researcher said:
Cryptoquant determined new LFG bitcoin addresses based upon transaction patterns and adjacent flows.
Luna Foundation Guard, however, denied this allegation on Tuesday night. The group tweeted its treasury’s bitcoin address, adding: “LFG hasn’t created any new wallets or moved BTC or other tokens held by LFG since May 2022.”
Do Kwon Says: ‘I’m Making Zero Effort to Hide’
The luna founder’s whereabouts are currently unknown. While he had been believed to be living in Singapore at the time, earlier this month the Singapore police said that he wasn’t currently there. Kwon has maintained that he is not “on the run,” tweeting Monday:
I’m making zero effort to hide. I love to walk and shop in the malls.
Kwon was issued an arrest warrant by a South Korean court on September 14. After the crash of the crypto luna, now called stablecoin terrausd and luna classic (LUNC), Kwon was arrested by a South Korean court on Sept. 14. In addition, the country’s ministry of foreign affairs is reportedly planning to revoke his passport.
Interpol issued a Red Notice for Terraform Labs’ co-founder. “A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action,” Interpol’s website details, adding that “Red Notices are issued for fugitives wanted either for prosecution or to serve a sentence.”
Do you believe Do Kwon has transferred 331 bitcoins since his arrest warrant was signed? Do you believe that Korean authorities should have the ability to block crypto exchanges? Comment below.
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