Do Kwon Linked 3,313 Bitcoin To Be Seized? S. Korea Deepens Probe

Trouble for Do Kwon, Terra co-founder seems to be increasing after Interpol issued Red Notice against him. In the latest hit, South Korean authorities have moved on to deepen their probe against the alleged crypto fugitive.

Do Kwon to lose his Bitcoins?

According to reports, South Korean prosecutors are moving ahead to freeze digital assets linked to crypto fugitive Do Kwon. However, the authority is seeking to arrest Terra Chief on the suspicion of breaking securities laws.

The South Korean authority has requested crypto exchanges KuCoin and OKX to seize around 3,313 Bitcoin linked to Do Kwon. The estimated amount of Bitcoins under consideration stands at $66.9 million.

The report states that these Bitcoins were moved from various sources to a wallet named Luna Foundation Guard (LFG). A Seoul Southern District official declined to disclose the plan ahead. However, KuCoin and OKX officials refused to comment on the matter for now.

3,313 Bitcoins were sent from the LFG to different crypto exchanges soon after South Korea issued an arrest warrant against Do Kwon.

Terra head running from the probe?

Earlier, Coingape reported that a crypto fugitive Do Kwon recently issued his take over the Interpol launched probe against him.

Terra Chief in a Twitter interaction mentioned that he has made negligible effort to hide. While he added that he is going on walks and to malls. However, no one has approached him over the past weeks. Do Kwon added that he tried to search the red notice on Interpol’s website.

However, this is the first time in the last four months that Seoul Southern District Prosecutor and Securities Crimes Joint Investigation Team took a step to seize Do Kwon’s digital assets.

Do Kwon has been on the run after the historic crypto Wipeout. Terra’s stablecoin USTC and native token LUNA collapsed to ashes. This caused damage of around $62 billion to the global crypto market.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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