South Korean prosecutors are seeking to freeze 3313 bitcoins from two cryptocurrency exchanges allegedly linked to luna founder Do Kwon. coins weremoved. Shortly after a South Korean court issued an arrest warrant for the co-founder of Terraform Labs, the coins were moved; Luna Foundation Guard denies the coins were moved.
South Korean authorities ask crypto exchanges to freeze bitcoins
South Korean authorities have reportedly asked cryptocurrency exchanges Kucoin and Okx to freeze 3,313 bitcoins allegedly associated with Terraform Labs co-founder Kwon Do-hyung, aka Do Kwon. The coins were transferred to the trading platform shortly after a warrant was issued for Kwon’s arrest in South Korea.
On Tuesday, an official from the Seoul Southern District Prosecutors’ Office confirmed to Bloombergthat a request to freeze 3,313 BTC was sent to two cryptocurrency exchanges. Prosecutors’ Office” hasfrozenBTC
.
According to crypto researcher Cryptoquant, the coins were transferred to the trading platform from a wallet allegedly linked to Luna Foundation Guard (LFG), created on September 15. The researchers told the publication.
Cryptoquant designated the new bitcoin address owned by LFG based on transaction patterns, adjacent flows, and critical non-public information.
However, the Luna Foundation Guard denied the allegations Tuesday evening. The group tweeted its treasury’s bitcoin address, adding, ” LFG has not created any new wallets and has not movedany BTCor other tokens held by LFG since May 2022,”
says Doquon. There is no effort to hide.”
The whereabouts of the Luna founder are currently unknown. He was believed to be in Singapore, but Singapore police announced earlier this month that he is no longer in the city-state; Kwon insists he is not “on the run” and tweeted the following Monday.
No effort to hide at all. Going for a walk or to the mall
A South Korean court issued an arrest warrant for Kwon on September 14. He is accused of fraud following the collapse of the cryptocurrency luna (now called luna classic (LUNC)) and the stablecoin terrausd (UST). In addition, the country’s Foreign Ministry reportedly plans to revoke his passport.
In addition, Interpol has issued a Red Notice for the co-founder of Terraform Labs.” Red Notices are requests to law enforcement agencies around the world to locate and provisionally arrest persons pending extradition, surrender, or similar legal action.” Interpol’s website details that “Red Notices are issued to fugitives who are wanted for prosecution or execution of a sentence.”
Do you think Do Kwon transferred 3,313 bitcoins after the arrest warrant was issued? Also, do you think Korean authorities should be able to freeze crypto on exchanges? Let us know in the comments section below.
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