South Korean authorities have reportedly frozen $40 million in crypto property, together with bitcoin, allegedly belonging to Luna founder Do Kwon. Nevertheless, Kwon denied that any funds of his have been frozen. “I don’t even use Kucoin and Okex, don’t have any time to commerce, no funds have been frozen,” he insisted.
Prosecutors Say They’ve Frozen Do Kwon’s Crypto, Together with Bitcoin
South Korean prosecutors have reportedly frozen practically $40 million in crypto property allegedly belonging to Terraform Labs co-founder Kwon Do-hyeong (also referred to as Do Kwon). Citing Korean publication News1, journalist Colin Wu tweeted Wednesday:
South Korean prosecutors have frozen $39.66 million of crypto property, together with BTC, owned by Do Kwon by way of two exchanges. Do Kwon and LFG beforehand denied attempting to switch their 3,313 BTC after being issued an arrest warrant.
The cash have been frozen at cryptocurrency exchanges Kucoin and Okx, the publication famous, including that the 2 buying and selling platforms have agreed to freeze Kwon’s crypto on the request of the prosecution.
South Korean prosecutors revealed final month that they have been in search of to freeze 3,313 bitcoins tied to Kwon that have been transferred to Kucoin and Okx from a pockets allegedly linked to Luna Basis Guard (LFG). Nevertheless, the group denied the allegation, insisting that it “hasn’t created any new wallets or moved BTC or different tokens held by LFG since Could 2022.”
Following the information of the prosecutors freezing $39.66 million in crypto belonging to him, Kwon took to Twitter to disclaim that the frozen funds are his. “I don’t get the motivation behind spreading this falsehood – muscle flexing? However to what finish?” the Luna founder tweeted Tuesday, including:
As soon as once more, I don’t even use Kucoin and Okex, don’t have any time to commerce, no funds have been frozen. I don’t know whose funds they’ve frozen, however good for them, hope they use it for good.
A South Korean court docket issued an arrest warrant for Kwon on Sept. 14. He’s accused of fraud after the collapse of the cryptocurrency luna (now known as luna basic (LUNC)) and stablecoin terrausd (UST). Furthermore, Interpol has issued a Pink Discover for him. “A Pink Discover is a request to regulation enforcement worldwide to find and provisionally arrest an individual pending extradition, give up, or comparable authorized motion,” Interpol’s web site particulars, including that “Pink Notices are issued for fugitives needed both for prosecution or to serve a sentence.”
The Luna founder’s whereabouts are at the moment unknown. He was believed to be in Singapore however the Singapore police drive not too long ago mentioned that he’s at the moment not in the city-state. Kwon has maintained that he’s not “on the run,” tweeting not too long ago that he’s “making zero effort to cover.”
Do you assume South Korean prosecutors have frozen Do Kwon’s crypto? Tell us in the feedback part under.
Earlier article
Elon Musk Hints The whole lot App ‘X’ Is Coming — Says Shopping for Twitter Accelerates Creation of X
Extra Fashionable Information
In Case You Missed It
Ripple CEO: SEC Lawsuit Over XRP ‘Has Gone Exceedingly Effectively’
The CEO of Ripple Labs says that the lawsuit introduced by the U.S. Securities and Alternate Fee (SEC) in opposition to him and his firm over XRP “has gone exceedingly nicely.” He pressured: “This case is essential, not only for Ripple, it’s … learn extra.
Following a Transient Charge Spike, Fuel Costs to Transfer Ethereum Drop 76% in 12 Days
Immediately’s Prime Ethereum and Bitcoin Mining Gadgets Proceed to Rake in Earnings
NFT Gross sales Quantity Noticed a Small Uptick This Week — Moonbirds, Mutant Apes Take Prime Gross sales
Economist Predicts the Fed’s Response to Inflation Will Push Crypto Increased
