Shortly after the arrest warrant was issued on Sep 14, Do Kwon, CEO of Terraform Labs transferred 3,313 Bitcoin, equivalent to 66.59 million USD to two crypto exchanges Kucoin and OKX. The data was reported by blockchain data analytics platform CryptoQuant, according to CoinDesk Korea.
Four months ago, Seoul Southern District Prosecutor’s Office and Stock Crime Joint Investigation Team conducted an investigation to prosecute and freeze Do Kwon’s assets. According to data from CryptoQuant, a digital wallet for Luna Foundation Guard (LFG) was created on Sep 15 on the Binance Exchange. LFG is a nonprofit fund founded by Do Kwon to promote Terra’s growth. Then, 3,313 Bitcoin was transferred from Binance to Kucoin and OKX exchanges.
As reported by CoinDesk, the authorities have ordered the two exchanges to freeze LFG’s assets. However, OKX has ignored the prosecution’s request to freeze assets. 1,959 BTC on OKX may have been transferred to another exchange, Coindesk said.
Prosecutors are investigating a variety of money transfers, including those that may be related to money laundering. On Sep 26, South Korea said that Interpol had asked law enforcement agencies around the world to locate and arrest Terraform Labs co-founder Do Kwon.
According to Bloomberg, the red notice allows police in member countries to share critical crime-related information that makes international travel difficult for the wanted person. Do Kwon will not be able to use the visa and move between different countries. At the same time, police forces in other countries can arrest him for extradition to South Korea.
When the arrest warrant was issued on Sep 14, the Prosecutor’s Office in Seoul said that Do Kwon was in Singapore. On September 17, Singapore police announced that Do Kwon was no longer in this country. Soon after, Do Kwon wrote on Twitter that he is making no effort to hide, however, this claim was rejected by South Korean prosecutors.
On September 18, South Korean prosecutors confirmed that Do Kwon was obviously “on the run”. Do Kwon had plans to flee the country before the LUNA crash in May.
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