Do Kwon transfers over 3,300 BTC to 2 different wallets

Do Kwon used a wallet in the name of LFG to transfer over 3,300 BTC

·28/09/2022
·TCN
·1 Comment

Do Kwon, the founder of Terra Luna transfers over 3,300 BTC to 2 different wallets. While claiming not to be on the run and cooperating with authorities, he used a wallet in the name of Luna Foundation Guard (LFG). Both wallets are hosted on OKX and KuCoin exchanges. As a result, South Korean authorities ordered the exchanges to freeze the funds, and KuCoin has already cooperated.

As a reminder, after the fall of Terra, Do Kwon suddenly left South Korea to hole up in Singapore. Fortunately, since several disgruntled investors wanted to go after him without having to go to court. At the moment, the South Korean authorities are after him. But Kwon says he is not on the run and is cooperating with the authorities.

In any case, Do Kwon remains very active on social networks. In his latest post on Twitter, he said he had not left Singapore.

Do Kwon even transferred BTC?

Indeed, Do Kwon used a wallet in the name of Luna Foundation Guard (LFG) and reportedly transferred 3,313 bitcoins (about $61 million according to the current price on bitcoin) on exchanges a day after he was placed under arrest.

Blockchain analysis firm CryptoQuant found that on September 15, one day after being placed under arrest, Do Kwon created a digital wallet under the name Luna Fondation Guard (LFG) on the Binance platform. A few days after the creation of this wallet, the 3,313 bitcoins were reportedly transferred to two exchanges, Kucoin and OKX.

It is worth mentioning that Luna Foundation Guard is a foundation created by computer scientist Do Kwon in January this year, with the intention of defending the price of the currently decapitalized crypto, using bitcoin (BTC). This organization claimed to have about 80,000 BTC in custody.

As a reminder, on Monday, Do Kwon was even placed on the Interpol red list. The co-founder of the blockchain Terra lost $ 40 billion to investors after the collapse of its ecosystem in mid-May, causing many upheavals within the crypto ecosystem.