After South Korean prosecutors issued an arrest warrant for Terra (LUNA) CEO, around 3,313 BTC linked to Do Kwon were unexpectedly transferred.
The transaction was made by the CEO of the cryptocurrency platform, Do Kwon, right after his arrest order was issued.
Indeed, shortly after South Korean prosecutors issued an arrest warrant for Terra CEO, around 3,313 BTC linked to Do Kwon were unexpectedly transferred. A local media outlet reported on September 27 that the transfer was made by Do Kwon to two international cryptocurrency exchanges.
Crypto wallet suddenly appears
Considering the current Bitcoin price, the amount transferred to KuCoin and OKX wallets was valued at around $66.65 million. The transfers were made from a Luna Foundation Guard (LFG) crypto wallet created on September 15.
According to a local media outlet, “the Luna Foundation Guard (LFG) virtual asset wallet was created on Binance on September 15th. About 3313 BTC was transferred to the Kucoin and OKX wallets.”
As a reminder, Do Kwon founded LFG as a non-profit organization with the goal of safeguarding LUNA's pricing reserves. As per sources data, 3,313 Bitcoin were transferred to KuCoin between September 15 and 18, while OKX received 1,959 BTC.
Freezing the transfers
At the same time, South Korean authorities have taken efforts to freeze assets linked to Do Kwon, sending requests to both KuCoin and OKX to freeze the transferred 3,313 Bitcoin.
According to reports, KuCoin froze 1,354 Bitcoin of the transferred assets. Meanwhile, OKX ignored the request, maybe because the 1,959 Bitcoin had already been transferred to another exchange.
Do Kwon still insists he’s not running
Meanwhile, a week after denying that he was on the run following the issuing of the arrest warrant, Do Kwon went to Twitter to reiterate that he was not hiding from the authorities.
As CoinGabbar earlier reported, Do Kwon broke his silence in his first public interview since his project's failure in mid-August. The address had a terrible domino effect on the entire cryptocurrency landscape.
Read also: Uniswap Technical Analysis: UNI Registers 18% Rally In Last 7 Days
