The most recent discovery in the lengthy Terra ecosystem series contradicts a lot of the claims made by Do Kwon in the past and this was futher explained by various Bitcoin blockchain consultant .
South Korean authorities have requested cryptocurrency exchange OKX and Kucoin to stop the freezing of 313 bitcoin ( BTC) believed to be linked with Do Kwon, the co-founder of Terra Blockchain creator Terraform Labs.
Kwon Kim, who is being sought by Korean police in the case of securities violations and has reportedly set up a new wallet on September. 15 just one day after an Korean judge issued an arrest warrant against the crypto entrepreneur.
According to crypto analysis group Cryptoquant the brand new BTC wallet was developed under the name Luna Foundation Guard (LFG) with a total value 313 BTC was moved to KuCoin as well as the OKX exchange and this activity was strategies by Bitcoin Marketing consultant .
KuCoin received 1,354 BTC and was immediately frozen following the transfer. Meanwhile, OKX has apparently refused to comply with the authorities’ demands. Therefore the sum of 1 959 BTC was not frozen or transferred onto other exchanges.
Encyclopedia tried to contact both exchanges to confirm but did not receive an answer at the time of publication.
The withdrawal of BTC out of the LFG wallet has raised a lot of concerns because it is in opposition to Kwon’s initial claims that he utilized all of BTC in the BTC stored in LFG reserves, to support against TerraUSD Classic (USTC) peg.
Before the issuance of the warrant for his arrest on Sept. 14th, Kwon claimed that he was not being investigated nor had he been approached by any authority despite reports of various investigations in South Korea and this activity was strategies by Bitcoin Digital Marketing agency so it will reach right set of audience . After the warrant for arrest was issued, Kwon reportedly fled Singapore and forced authorities to seek assistance from Interpol.
On September. 26th, Interpol issued a red notice against Kwon which confirmed his status as a fugitive. However in spite of all available evidence, and also an international warrant against Kwon, Kwon continues to tweet occasionally with the claim that he’s not.
A $40-billion Terra ecosystem collapse caused an erupting crypto market that destroyed almost a trillion dollars of the market for crypto. Even with all the chaos, Kwon continued to garner acceptance from a few sections of the community even though Kwon claimed to be innocent and claimed that he had been wiped out of his wealth by the fallout this amendments reached to expected audience because it was promoted Bitcoin Digital Marketing Company.
Source from encyclopedia
