Do Kwon Transferred 3,310 BTC Even After Being Internationally Wanted

Slowly, Terraform Labs scandal is coming out in front of the world. A Bitcoin (BTC) transfer from the cryptocurrency platform’s CEO, Do Kwon, was noticed. This transfer happened soon after South Korean authorities released an arrest warrant for Terraform Labs’ co-founder.

CoinDesk reported on September 27 that they noted the transfer of almost 3,313 BTC from Do Kwon to two offshore cryptocurrency exchanges. Hence, CoinDesk Korea claims they noticed the creation of the Luna Foundation Guard (LFG) virtual asset wallet on September 15 on Binance. Binance is the world’s biggest virtual asset exchange, and there was a transfer of 3313 BTC to Kucoin and OKX wallets between September 15 and 18.

Mention, Do Kwon established the non-profit organization Luna Foundation Guard (LFG) with the motive to safeguard LUNA’s pricing preserves.

Considering the article, Bitcoin was moved to the exchanges’ digital wallets right after an arrest warrant was issued for Kwon in South Korea on September 14. However, the authorities charge the crypto entrepreneur for cheating investors in South Korea and breaking the country’s securities rules. The warrant was issued months after the $40 billion Terra ecosystem fell.

Due to ecosystem collapse, the decline of the market, and the downfall of other prominent companies in the field. According to Bloomberg’s Sangmi Cha and Tanzeel Akhtar, the authorities in South Korea have requested crypto exchanges OKX and KuCoin to freeze approximately 3,313 BTC worth $67 million linked to Do Kwon.

While responding to the orders of CoinDesk, KuCoin froze 1,354 BTC of the transferred amount. On the other hand, someone already shifted 1,959 to another exchange, so OKX ignored the request.

At the start of this year, Do Kwon moved from South Korea and Singapore. The authorities pledged to withdraw Do Kown’s passport and declare that he was “on the run .”Though, nobody knows where Do Kwon currently is.

Meanwhile, Do Kwon claimed last week that he is not “on the run” or something familiar. Any government corporation which wants to communicate will fully cooperate. Likewise, Do Kwon said he goes out for walks and visits malls because he does not have anything to hide.

Furthermore, Do Kwon tweeted from his official Twitter handle that he is surprised that how people spread wrong information immediately. He has not carried out any transfer as is not using kucoin or okex since last year. Besides, funds of tfl, lfg, and other entities are already frozen.