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South Korea Seeks to Freeze 3,313 Bitcoin Allegedly Linked to Luna Founder Do Kwon – Featured Bitcoin Information

South Korean prosecutors are looking for to freeze 3,313 bitcoins at two cryptocurrency exchanges allegedly tied to luna founder Do Kwon. The cash have been moved quickly after a South Korean courtroom issued an arrest warrant for the Terraform Labs co-founder. Luna Basis Guard has denied transferring the cash.

Korean Authorities Ask Crypto Exchanges to Freeze Bitcoin

South Korean authorities have reportedly requested cryptocurrency exchanges Kucoin and Okx to freeze 3,313 bitcoins allegedly tied to Terraform Labs co-founder Kwon Do-hyung, often known as Do Kwon. The cash have been transferred to the buying and selling platforms quickly after a warrant was issued for Kwon’s arrest in South Korea.

On Tuesday, an official on the Seoul Southern District Prosecutors’ Workplace confirmed to Bloomberg that requests have been despatched to the 2 cryptocurrency exchanges to freeze the three,313 BTC.

The cash have been transferred to the buying and selling platforms from a pockets allegedly linked to Luna Basis Guard (LFG) that was created on Sept. 15, in response to crypto researcher Cryptoquant. The researcher advised the publication:

Cryptoquant specified new bitcoin addresses owned by LFG based mostly on transaction patterns, adjoining flows and materials private data.

Nevertheless, Luna Basis Guard denied the allegation Tuesday night. The group tweeted its treasury’s bitcoin deal with, including: “LFG hasn’t created any new wallets or moved BTC or different tokens held by LFG since Could 2022.”

Do Kwon Says: ‘I’m Making Zero Effort to Disguise’

The luna founder’s whereabouts are at present unknown. He was believed to be in Singapore however the Singapore police drive stated earlier this month that he’s at present not within the city-state. Kwon has maintained that he’s not “on the run,” tweeting Monday:

I’m making zero effort to cover. I’m going on walks and malls.

A South Korean courtroom 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). As well as, the nation’s ministry of overseas affairs is reportedly planning to revoke his passport.

Furthermore, Interpol has issued a Crimson Discover for the Terraform Labs co-founder. “A Crimson Discover is a request to regulation enforcement worldwide to find and provisionally arrest an individual pending extradition, give up, or related authorized motion,” Interpol’s web site particulars, including that “Crimson Notices are issued for fugitives wished both for prosecution or to serve a sentence.”

Do you assume Do Kwon transferred 3,313 bitcoins after his arrest warrant was issued? And, do you assume Korean authorities ought to be capable to freeze crypto at exchanges? Tell us within the feedback part beneath.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

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