South Korea Reportedly Freezes Do Kwon’s Crypto Worth $40M — Luna Founder Says the Funds Are Not His

South Korean authorities person reportedly frozen $40 cardinal successful crypto assets, including bitcoin, allegedly belonging to Luna laminitis Do Kwon. However, Kwon denied that immoderate funds of his person been frozen. “I don’t adjacent usage Kucoin and Okex, person nary clip to trade, nary funds person been frozen,” helium insisted.

Prosecutors Say They’ve Frozen Do Kwon’s Crypto, Including Bitcoin

South Korean prosecutors person reportedly frozen astir $40 cardinal successful crypto assets allegedly belonging to Terraform Labs co-founder Kwon Do-hyeong (also known arsenic Do Kwon). Citing Korean work News1, writer Colin Wu tweeted Wednesday:

South Korean prosecutors person frozen $39.66 cardinal of crypto assets, including BTC, owned by Do Kwon done 2 exchanges. Do Kwon and LFG antecedently denied trying to transportation their 3,313 BTC aft being issued an apprehension warrant.

The coins were frozen astatine cryptocurrency exchanges Kucoin and Okx, the work noted, adding that the 2 trading platforms person agreed to frost Kwon’s crypto astatine the petition of the prosecution.

South Korean prosecutors revealed past period that they were seeking to frost 3,313 bitcoins tied to Kwon that were transferred to Kucoin and Okx from a wallet allegedly linked to Luna Foundation Guard (LFG). However, the enactment denied the allegation, insisting that it “hasn’t created immoderate caller wallets oregon moved BTC oregon different tokens held by LFG since May 2022.”

Following the quality of the prosecutors freezing $39.66 cardinal successful crypto belonging to him, Kwon took to Twitter to contradict that the frozen funds are his. “I don’t get the information down spreading this falsehood – musculus flexing? But to what end?” the Luna laminitis tweeted Tuesday, adding:

Once again, I don’t adjacent usage Kucoin and Okex, person nary clip to trade, nary funds person been frozen. I don’t cognize whose funds they’ve frozen, but bully for them, anticipation they usage it for good.

A South Korean tribunal issued an arrest warrant for Kwon connected Sept. 14. He is accused of fraud aft the illness of the cryptocurrency luna (now called luna classical (LUNC)) and stablecoin terrausd (UST). Moreover, Interpol has issued a Red Notice for him. “A Red Notice is simply a petition to instrumentality enforcement worldwide to find and provisionally apprehension a idiosyncratic pending extradition, surrender, oregon akin ineligible action,” Interpol’s website details, adding that “Red Notices are issued for fugitives wanted either for prosecution oregon to service a sentence.”

The Luna founder’s whereabouts are presently unknown. He was believed to beryllium successful Singapore but the Singapore constabulary unit precocious said that helium is presently not successful the city-state. Kwon has maintained that helium is not “on the run,” tweeting precocious that helium is “making zero effort to hide.”

Do you deliberation South Korean prosecutors person frozen Do Kwon’s crypto? Let america cognize successful the comments conception below.

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