Terra Founder Denies Transferring Bitcoin to His Private Wallet

Terra Founder Denies Transferring Bitcoin to His Private Wallet

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Answer Terra Founder Denies Transferring Bitcoin to His Private Wallet

Earlier this week, Interpol issued a “red notice” against Terra founder Do Kwon at the request of South Korean prosecutors.

Interestingly, the plaintiffs also requested a freeze of $67 million worth of bitcoins linked to the fugitive Terra founder.

Prosecutors decided to freeze the assets after they discovered a series of financial transactions linked to Do Kwon.

Do Kwon responded that he had not moved any Bitcoin from his Luna Foundation Guard wallet, the address of which was previously tweeted on May 22.

The LFG tweet states:

The LFG treasury bitcoin wallet is:


LFG has not created any new wallets or transferred bitcoin or other digital currencies held by LFG since May 2022.

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According to South Korean prosecutors, they have a confirmed report that 3,313 bitcoins worth about $67 million were transferred to the KuCoin and OKX exchanges from wallets linked to the Luna Foundation Guard.

Trading platforms have not responded to this issue yet.

Also, according to a crypto market researcher, a new wallet address believed to belong to LFG was created on September 15.

After that, the wallet transferred 3,313 bitcoins to the aforementioned trading platforms.

He said researcher In a statement via email to Bloomberg:

CryptoQuant has identified new bitcoin addresses owned by LFG based on transaction patterns, adjacent flows, and non-public physical information.

Do Kwon stated: I’m not on the run

Interpol was searching for the location of Terra’s founder, however, Do Kwon remained quite calm and was responding to Twitter messages normally.

Earlier on Monday, the Terra founder said he’s making no effort to hide, adding:

I walk on walking tours and shopping malls.

The collapse of the Terra ecosystem earlier this year eroded more than $60 billion in investor money.

Read:Alternative digital currencies are flying high in light of the recession of Bitcoin and Ethereum

Since then, organizers around the world, especially in South Korea, have been keeping a close eye on Do Kwon’s movements.

Until earlier this month, it was reported that Do Kwon was in Singapore.

But Singapore police confirmed that the founder of Terra is no longer in the city.

Although Do Kwon has promised to cooperate with investigative agencies, his whereabouts are still unknown.

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