In a new turn of events surrounding the beleaguered founder of Terra LUNA/USD blockchain Do Kwon, who has a red notice issued against him by Interpol, Luna Foundation Guard [LFG] moved 3,313 Bitcoin BTC/USD totaling more than $69 million to two cryptocurrency exchanges located outside of South Korea.
South Korean authorities have succeeded in freezing part of the transferred Bitcoin since the alleged transfer.
On Sept. 15, the LFG abruptly created a wallet on Binance, and soon after, 3,313 Bitcoin were sent to wallets on crypto exchanges Kucoin and OKX.
It was also been discovered that starting on Sept. 15, transactions totaling 1354 Bitcoin were made to Kucoin on three consecutive days using the LFG account on Binance.
OKX garnered 1959 Bitcoin, valued at about $39 million.
The Securities Crimes Joint Investigation Team, led by Director Dan Seong-han, along with Yang Seok-jo with the Seoul Southern District Prosecutor's Office have been placed in charge of the investigation.
The investigation team contacted Kucoin and OKX while these transactions were public, requesting that they freeze the money.
OKX reportedly declined to freeze money
While OKX reportedly declined the request, Kucoin chose to comply with it.
Is Do Kwon involved?
Kwon has often said that he was in contact with government representatives and is not on the run.
A former prosecutor claimed Kwon may have attempted to utilize the substantial sum of money as an evacuation fund.
The official stated, "In a normal criminal investigation if a large amount of money is moved from the suspect’s account after the issuance of an arrest warrant, it is natural to conduct an intensive investigation with suspicion of laundering and concealment. We must first check whether it will be used as an evacuation fund."
The prosecution is also reportedly suspicious of Kwon fleeing, laundering, or hiding since the arrest order has been issued.
The prosecution is also aware that Kwon is likely to claim he had nothing to do with the Bitcoin transfer.
However, inquiries and efforts to cut off Kwon's funding have been made a priority.
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