South Korean authorities have reportedly frozen $40 million in crypto property, together with bitcoin, allegedly belonging to Luna founder Do Kwon. Nevertheless, Kwon denied that any funds of his have been frozen. “I don’t even use Kucoin and Okex, don’t have any time to commerce, no funds have been frozen,” he insisted.
South Korean prosecutors have reportedly frozen almost $40 million in crypto property allegedly belonging to Terraform Labs co-founder Kwon Do-hyeong (also called Do Kwon). Citing Korean publication News1, journalist Colin Wu tweeted Wednesday:
South Korean prosecutors have frozen $39.66 million of crypto property, together with BTC, owned by Do Kwon by way of two exchanges. Do Kwon and LFG beforehand denied attempting to switch their 3,313 BTC after being issued an arrest warrant.
The cash have been frozen at cryptocurrency exchanges Kucoin and Okx, the publication famous, including that the 2 buying and selling platforms have agreed to freeze Kwon’s crypto on the request of the prosecution.
South Korean prosecutors revealed final month that they have been looking for to freeze 3,313 bitcoins tied to Kwon that have been transferred to Kucoin and Okx from a pockets allegedly linked to Luna Basis Guard (LFG). Nevertheless, the group denied the allegation, insisting that it “hasn’t created any new wallets or moved BTC or different tokens held by LFG since Could 2022.”
Following the information of the prosecutors freezing $39.66 million in crypto belonging to him, Kwon took to Twitter to disclaim that the frozen funds are his. “I don’t get the motivation behind spreading this falsehood – muscle flexing? However to what finish?” the Luna founder tweeted Tuesday, including:
As soon as once more, I don’t even use Kucoin and Okex, don’t have any time to commerce, no funds have been frozen. I don’t know whose funds they’ve frozen, however good for them, hope they use it for good.
A South Korean courtroom issued an arrest warrant for Kwon on Sept. 14. He’s accused of fraud after the collapse of the cryptocurrency luna (now known as luna basic (LUNC)) and stablecoin terrausd (UST). Furthermore, Interpol has issued a Pink Discover for him. “A Pink Discover is a request to legislation enforcement worldwide to find and provisionally arrest an individual pending extradition, give up, or comparable authorized motion,” Interpol’s web site particulars, including that “Pink Notices are issued for fugitives needed both for prosecution or to serve a sentence.”
The Luna founder’s whereabouts are at the moment unknown. He was believed to be in Singapore however the Singapore police pressure just lately stated that he’s at the moment not within the city-state. Kwon has maintained that he’s not “on the run,” tweeting just lately that he’s “making zero effort to cover.”
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