Breaking: Terra Founder Do Kwon Clarifies After LFG Denies Moving Bitcoin (BTC)

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

Do Kwon Denies Bitcoin Transfer to Crypto Exchanges

Terra founder Do Kwon in a tweet 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 for over a year. He believes there is so much misinformation being spread against him.

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

“What has been probably the most surprising in all this is the amount of misinformation that gets spread. There is no cashout as alleged, i havent used KuCoin or Okex in at least the last year, and no funds of tfl, lfg or any other entities have been frozen.”

South Korean prosecutors earlier asked KuCoin and OKX to freeze $67 million Bitcoin linked to Do Kwon after finding fund transfers from LFG wallets. However, LFG in a tweet denied any Bitcoin or other token transfer since the Terra-LUNA crisis in May. Also, no new wallets have been created to transfer the funds.

“The LFG treasury’s BTC wallet is: bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q. LFG hasn’t created any new wallets or moved BTC or other tokens held by LFG since May 2022.

Prosecutors believe Terra founder Do Kwon has created a new wallet for LFG and allegedly transferred funds between the wallets and exchanges.

Interpol Red Notice Against Terra Founder

Interpol has issued a red notice against Terra founder Do Kwon after South Korean prosecutors escalated investigations against him. Prosecutors and Interpol actively look for Terra’s founder, while he continues to respond to Twitter messages.

Singapore police also confirmed he is no longer in the city-state. Do Kwon conveyed 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 about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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