Tuesday, March 28, 2023
    HomeRegulationLuna Foundation Guard Denies Moving Any Bitcoins Since May 2022

    Luna Foundation Guard Denies Moving Any Bitcoins Since May 2022


    Earlier this week, Interpol issued a Red Notice to Terra founder Do Kwon on request from South Korean prosecutors. Curiously, the prosecutors additionally requested for freezing $67 million value of Bitcoins tied to the fugitive Terra founder. The prosecutors determined to freeze property after they discovered a path of funds linked to Do Kwon.

    Nevertheless, the Luna Basis Guard, a Bitcoin reserve linked to Do Kwon mentioned that denied transferring any tokens since Might 22. The tweet from LFG reads:

    The LFG treasury’s $BTC pockets is: bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q. LFG hasn’t created any new wallets or moved $BTC or different tokens held by LFG since Might 2022.

    As per the south Korean prosecutors, they’ve a confirmed report that 3,313 Bitcoins — value about $67 million have been moved to crypto exchanges KuCoin and OKX from wallets linked to Kwon’s Luna Basis Guard. These two exchanges haven’t responded to the matter but.

    Additionally, as per a crypto market researcher, a brand new pockets deal with believed to belong to LFG was created on September 15. Put up that, the pockets moved the 3313 Bitcoins to the 2 exchanges. In an emailed assertion to Bloomberg, the researcher said:

    “CryptoQuant specified new Bitcoin addresses owned by LFG based mostly on transaction patterns, adjoining flows and materials personal info”.

    Do Kwon Says He’s Not On the Run

    Interpol has been searching for the placement of the Terra founder, nonetheless, Do Kwon stays completely calm and has been responding to Twitter messages. Earlier on Monday, the Terra founder mentioned that he’s “making zero effort to cover,” including “I am going on walks and malls.”

    The implosion of the Terra ecosystem earlier this yr led to the erosion of greater than $60 billion in traders’ funds. Since then, regulators throughout the globe, and particularly in South Korea, have been preserving an in depth watch on the motion of Do Kwon.

    Till earlier this month, Do Kwon was reportedly in Singapore. Nevertheless, the Singapore police have confirmed that the Terra founder isn’t any extra within the metropolis. Though Kwon has promised to cooperate with the investigative companies, his location stays unknown.

    Bhushan is a FinTech fanatic and holds aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Expertise and Cryptocurrency markets. He’s constantly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and typically discover his culinary expertise.

    The offered content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.

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