Terra Founder Do Kwon Clarifies After LFG Refuses To Move Bitcoin (BTC)

After Singapore-based Luna Foundation Guard (LFG) denied Bitcoin movements from the wallet, Terra founder Do Kwon clarified the allegations. Do Kwon claims he hasn’t used KuCoin or OKX for at least a year. Also, funds from LFG, TerraForm Labs or other entities are not frozen.

Denies Kwon Bitcoin Transfer to Crypto Exchanges

Terra founder Do Kwon in one chirping on September 28 denied allegations of moving Bitcoin from LFG wallets to crypto exchanges KuCoin and OKX. Terra founder even claims that he hasn’t used KuCoin or OKX in over a year. He believes there is so much misinformation being spread about him.

Also, he confirms that the funds of Luna Foundation Guard (LFG) and TerraForm Labs or other entities have not been frozen.

“What has probably been the most surprising thing in all of this is the amount of misinformation being spread. There are no payouts as claimed, I have not used KuCoin or Okex in the last year at least, and no funds from tfl, lfg or anyone else devices have been frozen.”

South Korean prosecutors previously asked KuCoin and OKX to freeze $67 million in Bitcoin linked to Do Kwon after finding money transfers from LFG wallets. However, LFG in a chirping denied any Bitcoin or other token transfer since the Terra-LUNA crisis in May. Nor have new wallets been created to transfer the funds.

“LFG fund BTC the wallet is: bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q. LFG has not created any new wallets or moved BTC or other tokens held by LFG since May 2022.

The prosecutor believes Terra founder Do Kwon has created a new wallet for LFG and allegedly transferred funds between wallets and exchanges.

Interpol red notice against founder of Terra

Interpol has issued a red notice against Terra founder Do Kwon after South Korean prosecutors escalated their investigation into him. Prosecutors and Interpol are actively looking for Terra’s founder, as he continues to respond to Twitter messages.

Singapore police also confirmed that he is no longer in the city-state. Do Kwon conveyed that he is not on the run and is cooperating with the authorities.

Meanwhile, Terra tokens LUNC and LUNA continue to dive after an arrest warrant was issued against Do Kwon.

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by Disruptive Technologies, he has shared his knowledge of Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a significant period of time and currently covers all the latest updates and developments in the crypto industry.

The content presented may include the author’s personal opinion and is subject to market conditions. Do market research before investing in cryptocurrencies. The author or publication has no responsibility for your personal financial loss.