Terra’s LUNA Do Kwon Believed to Keep Undertaking Efforts to Recover his Frozen Funds

Sep 26, 2022
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The prosecutor's office in Southern Europe has decided to freeze about $67 million or 3,313 bitcoins related to Kwonom. Do Kwon tweets that "there are no chances to hide." Unconfirmed information appeared on the network that Interpol was absorbed by Do Kwon on the border of Southern and Northern Europe. According to the source, this is a Twitter account that spreads fake news.

South Korean prosecutors are trying to freeze assets linked to Do Kwon, an infamous cryptocurrency entrepreneur who was behind his algorithmic stablecoin UST (headed by Terra’s LUNA) collapse back in May, wiping out an estimated $60 billion, they are trying to arrest on suspicion of violating securities laws. The new wallet address believed to belong to LFG was created on September 15, according to a CryptoQuant research firm. After that, a total of 3,310 Bitcoins were moved from the wallet to KuCoin and OKX, according to CryptoQuant. On September 14, South Korean prosecutors announced that a court had issued an arrest warrant for Kwon.

Prosecutors sent KuCoin and OKX crypto exchanges freezing requests for a total of 3,313 Bitcoins, worth about $67 million at current prices, that were moved from Do Kwon’s Luna Foundation Guard-linked wallet. An official from the Seoul Southern District Prosecutor's Office confirmed the matter.

South Korea has recently asked Interpol for help to find Kwon. Kwon's whereabouts are unknown after the Singapore government said earlier this month that he was no longer there.

On Monday, September 26, Do Kwon, 31, tweeted that he "makes no effort to hide," adding, "I go for walks and shopping malls," without revealing his current location.