The Luna Foundation Guard, a Bitcoin reserve linked to Do Kwon, stated that no tokens have been transferred since May 22. As per reports, a new wallet address believed to belong to LFG was created on September 15 to make transfers.
Surprisingly, the authorities also requested the freezing of $67 million in Bitcoins linked to the fugitive Terra founder. The prosecutors opted to freeze assets after discovering a trail of funds linked to Do Kwon.
However, the Luna Foundation Guard, a Bitcoin reserve linked to Do Kwon, stated that no tokens have been transferred since May 22. LFG's tweet reads: “LFG hasn't created any new wallets or transferred any BTC or any tokens held by LFG since May 2022.”
As per South Korean authorities, they have confirmed information that 3,313 Bitcoins worth around $67 million were transferred from wallets related to Kwon's Luna Foundation Guard to crypto exchanges KuCoin and OKX. These two exchanges have yet to respond to the matter.
According to a crypto market researcher, a new wallet address believed to belong to LFG was also created on September 15. Following that, the wallet transferred the 3313 Bitcoins to the two exchanges.
Do Kwon Says He’s Not On the Run
Interpol has been searching for the Terra founder's location, but Do Kwon has remained calm and has been responding to Twitter messages. Earlier this week, the Terra founder stated that he is "making no attempt to hide," adding, "I go on walks and malls."
The Terra ecosystem's collapse earlier this year resulted in the loss of more than $60 billion in investor funds. Since then, regulators across the world, particularly in South Korea, have been keeping a close eye on Do Kwon's movements.
Until earlier this month, Do Kwon was reportedly in Singapore. However, Singapore authorities have confirmed that the Terra founder is no longer in the city. Although Kwon has vowed to cooperate with investigators, his location remains unknown.