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Cardano Founder Takes Jab at Terra's Do Kwon: Details

Tue, 09/27/2022 - 09:56
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Tomiwabold Olajide
Terra co-founder denied being on run
Cardano Founder Takes Jab at Terra's Do Kwon: Details
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Cardano founder Charles Hoskinson has taken a jab at Terra co-founder Do Kwon for insisting he was not on the run and had nothing to hide. The Terra co-founder denied being on the run after the Singaporean police indicated that he was no longer in the country.

All the while, Kwon was thought to be in Singapore until it was proven otherwise. Following the disclosure, Kwon said in tweets that he did not have anything to hide and that he was willing to cooperate with "any government agency." His exact location, however, remained unknown.

Terra Founder Do Kwon Reportedly Flees Singapore After Arrest Warrant

Earlier, South Korea’s court issued an arrest warrant against Kwon, accusing him and other individuals of violating capital-markets law. At the moment, the International Criminal Police Organization (Interpol) has issued a red notice for embattled Terra founder Do Kwon.

3,313 BTC moved from LFG wallet

Since Sept. 14, roughly 3,313 BTC (or about $66.59 million) were abruptly moved to two crypto exchanges, not long after Terra co-founder Kwon Do-Hyung received an arrest warrant.

Colin Wu reports: "3313BTC in LFG Binance wallet was transferred to Kucoin from September 15th to 18th, and 1959 BTC was transferred to OKX. At the request of the South Korean government, Kucoin froze 1,354 BTC. OKX ignores the freeze request."

According to Crypto Quant, 3,313 BTC in the LFG (Luna Foundation Guard) Binance wallet were moved to Kucoin between Sept. 15 and 18, and 1,959 BTC to OKX exchange. On each of the two exchanges, deposits were made four to five times.

LUNC Sees High Interest from Crypto Community, Where Might This Lead?

The transfer was quickly discovered by the merger team, who then requested that Kucoin freeze the transferred 1,354 BTC. OKX allegedly disregarded the prosecution's demand to freeze assets, on the other hand. The 1,959 BTC that was transferred there may have migrated to another exchange as a result.

The arrest warrant for Terra founder Do Kwon has gained a lot of attention in the cryptocurrency world. Recent occurrences indicate that Kwon is unquestionably on the run, and Interpol is currently trying to find and apprehend him.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.