The Terra saga adds yet another chapter this week.
South Korean authorities are seeking to freeze more than $60 million in Bitcoin linked to Terra co-founder Do Kwon, various electrical outlets reported.
The claim was reportedly filed with crypto exchanges OKX and KuCoin, involving some 3,313 Bitcoins, worth around $62 million at current prices.
But Kwon, who was hit with a Interpol Red Notice for his arrest this week for his role in the collapse of the Terra ecosystem, said on Twitter that the report was “misinformation” and claimed that he hadn’t used any of the named platforms “for at least the last year”.
Although prosecutors declined to say why they believed bitcoin was linked to Kwon, research by analytics platform CryptoQuant suggested the funds were transferred by the Luna Foundation Guard (LFG) on September 15, the next day. from a Korean court. issued an arrest warrant for Kwon.
LFG is a Singapore-based organization created to support the growth of the Terra ecosystem. His members to understand Terra Co-Founder Do Kwon, Terra Research Head Nicholas Platias, Real Vision Media Co-Founder Remi Tetot, Delphi Digital Partner José Maria Macedo, and Jump Crypto President Kanav Kariya
LFG also took to Twitter to deny any new wallets being created or crypto moving since May.
The organization also posted the address of its Bitcoin wallet, to which CryptoQuant replied“It’s the public”, implying that there is at least one other private wallet.
In response to suspicions about the timing of the alleged transfer, Kwon denied that there was ever an attempt to “take it out”.
Decrypt has contacted South Korean prosecutors and CryptoQuant for comment.
“Make no effort to hide”: co-founder of Terra
Despite the Korean arrest warrant and Interpol notice against him, Kwon claimed he was “not ‘on the run’ or something similar.”
Authorities believed the embattled founder was in Singapore, but local police said earlier this month he was not there. The authorities sought to cancel his passport.
In other interactions with Twitter users asking where he is, Kwon claimed he “codes in my living room” and regularly walks around and at the mall, make “zero effort to hide”.
The collapse of the Terra ecosystem (both LUNA and UST algorithmic stablecoin) occurred amid a crypto sell-off, leading to the collapse of various other companies in industry.
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