Luna Foundation Guard Denies Moving Any Bitcoins Since May 2022

Earlier this week, Interpol issued a Red Notice to Terra founder Do Kwon on request from South Korean prosecutors. Interestingly, the prosecutors additionally requested for freezing $67 million price of Bitcoins tied to the fugitive Terra founder. The prosecutors determined to freeze belongings after they discovered a path of funds linked to Do Kwon.

However, the Luna Foundation Guard, a Bitcoin reserve related to Do Kwon mentioned that denied shifting any tokens since May 22. The tweet from LFG reads:

The LFG treasury’s $BTC pockets is: bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q. LFG hasn’t created any new wallets or moved $BTC or different tokens held by LFG since May 2022.

As per the south Korean prosecutors, they’ve a confirmed report that 3,313 Bitcoins — price about $67 million have been moved to crypto exchanges KuCoin and OKX from wallets linked to Kwon’s Luna Foundation Guard. These two exchanges haven’t responded to the matter but.

Also, as per a crypto market researcher, a brand new pockets handle believed to belong to LFG was created on September 15. Post that, the pockets moved the 3313 Bitcoins to the 2 exchanges. In an emailed assertion to Bloomberg, the researcher said:

“CryptoQuant specified new Bitcoin addresses owned by LFG based on transaction patterns, adjacent flows and material non-public information”.

Do Kwon Says He’s Not On the Run

Interpol has been searching for the situation of the Terra founder, nevertheless, Do Kwon stays completely calm and has been responding to Twitter messages. Earlier on Monday, the Terra founder mentioned that he’s “making zero effort to hide,” including “I go on walks and malls.”

The implosion of the Terra ecosystem earlier this 12 months led to the erosion of greater than $60 billion in buyers’ funds. Since then, regulators throughout the globe, and particularly in South Korea, have been retaining an in depth watch on the motion of Do Kwon.

Until earlier this month, Do Kwon was reportedly in Singapore. However, the Singapore police have confirmed that the Terra founder isn’t any extra within the metropolis. Although Kwon has promised to cooperate with the investigative companies, his location stays unknown.

Bhushan is a FinTech fanatic and holds aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is repeatedly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and generally discover his culinary expertise.

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