South Korean authorities have reportedly frozen $40 million in crypto assets, including bitcoin, allegedly owned by Luna founder Do Kwon. However, Kwon denied that his funds were frozen.” I don’t even use Kucoin and Okex, I don’t have time to trade, my funds are not frozen,” he claimed.
Prosecutors say they have frozen Do Kwon’s crypto, including Bitcoin
South Korean prosecutors have reportedly frozen about $40 million in crypto assets allegedly belonging to Terraform Labs co-founder Kwon Do-hyeong (aka Do Kwon). Citing a South Korean publication, News1cites a report that the company has frozen approximately $40 million in crypto assets belonging to Kwon Do-hyeong (aka Do Kwon). Journalist Colin Wu tweetedandWednesday.
South Korean prosecutors have frozen $3.966 million in crypto assets, includingBTCowned by Do Kwon through two exchanges; Do Kwon and LFG had previously transferred 3, 313of which they denied attempting to transfer. After the arrest warrant was issued, they denied attempting to transfer BTC
coins were frozen on cryptocurrency exchanges Kucoin and Okx, the publication noted, adding that the two trading platforms agreed to freeze Kwon’s crypto at the request of prosecutors.
South Korean prosecutors revealed last month that they are seeking to freeze 3313 bitcoins related to Kwon that were transferred to Kucoin and Okx from wallets allegedly linked to Luna Foundation Guard (LFG). However, the group denied the allegations, insisting that it “has not created ormoved any new wallets,BTCor other tokens held by LFG since May 2022.”
Prosecutors have frozen $39.66 million in crypto belonging to him. Following the news, Kwon denied on Twitter that the frozen funds were his.” I don’t know the motive behind spreading this falsehood – muscle flexibility? But to what end?” Luna foundertweetedTuesday, adding.
Again, I don’t use Kucoin or Okex, I don’t have time to trade, my funds are not frozen. I don’t know whose funds they froze, but that’s a good thing, I hope they go to good things.
A South Korean court issued an arrest warrant for Kwon on September 14. He is accused of fraud after the collapse of the cryptocurrency luna (now called luna classic (LUNC)) and the stablecoin terrausd (UST). In addition, Interpol issued a Red Notice against him.” A Red Notice is a request to law enforcement agencies worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.” Interpol’s website elaborates that “Red Notices are issued to fugitives who are wanted for prosecution or execution of a sentence.”
The whereabouts of the Luna founder are currently unknown. He was believed to be in Singapore, but Singapore police recently announced that he is no longer in the city-state. Kwong insists that he is not “on the run” and recently tweeted that he is “not making any effort to hide.”
Image credits: Shutterstock, Pixabay, Wiki Commons
