Since the fall of Terra, several cryptocurrencies have been in the red. To name only bitcoin and ethereum. But the collapse of this ecosystem also caused Do Kwon, founder of TerraForm Labs, to flee from authorities in South Korea and Singapore. If the latter continues to prove that he is not afraid to go before the bar, his actions seem to prove the opposite. Recently, South Korean prosecutors suspected a $67 million bitcoin transfer from him. Or 3,313 BTC. And this, the day after the issuance of an arrest warrant against Kwon.
Did Do Kwon prepare his escape with as many bitcoins as possible?
The Terra (LUNA) saga will take another turn with this latest news. Indeed, the South Korean authorities have spotted a transfer of 3,313 BTC to two cryptocurrency exchanges, KuCoin and OKX.
Cointelegraph, which reported the Cryptoquant analysis, highlighted the opening of a bitcoin wallet in the name of the Luna Foundation Guard (LFG). The latter would have carried out a transfer of bitcoin assets to the two platforms mentioned above.
The breakdown of transfers is as follows:
- 1,354 BTC to KuCoin;
- and 1,959 BTC to OKX.
Note that after the request of the South Korean justice, the LFT bitcoins transferred to KuCoin were immediately frozen. Regarding the BTC holdings routed to OKX, there was no confiscation possible. The reason being that OKX ignored the requests of the authorities.
Do Kwon would therefore currently have the equivalent of 38 million dollars in funds to guarantee his escape.
Kwon’s contradictory actions
Asked by @tier10k about Interpol’s red notice, Do Kwon replied:
This to demonstrate that the allegations against him are not official. However, recently, Interpol and the South Korean Justice have issued an arrest warrant against the boss of Terra.
Kwon had even gone so far as to say that he continues to live a normal life, without any authority worthy of the name contacting him.
What seems weird about all of this is his cheekiness on Twitter. Enthusiasts of the blue bird social network kept asking him his current location, but he never answered precisely. However, everyone seems aware of his status as a fugitive after the announcements of an arrest warrant by the competent authorities. Moreover, the withdrawal of bitcoins does not bode well for the rest of the events.
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