South Korean authorities are looking for the arrest of Do Kwon, co-founder and chief government officer of Terraform Labs. His business is at the rear of the now-collapsed terraUSD and luna cryptocurrencies. South Korean prosecutors are now seeking to freeze bitcoin connected to Kwon.
Woohae Cho | Bloomberg | Getty Illustrations or photos
South Korean authorities sought Kwon’s arrest this thirty day period and claimed he is on the run. The prosecutors stated that Interpol, the world policing firm, has issued a “Purple Notice” for Kwon. These kinds of notices are issued for fugitives needed possibly for prosecution or to provide a sentence.
Kwon, even so, insists he is not on the operate and explained Tuesday on Twitter that he is “earning zero effort to disguise.” The crypto founder claims he goes on walks and is in his living room coding.
Community spat proceeds
The Seoul Southern District prosecutors office environment declined to remark on how they discovered that the bitcoin is linked to Kwon.
But exploration from analytics system CryptoQuant suggests that the Luna Foundation Guard (LFG) established up a electronic wallet on Sept. 15 and sent 3,310 bitcoin to KuCoin and OKX. The Luna Basis Guard is a non-financial gain aimed at selling the blockchain Terra, designed by Kwon’s firm Terraform Labs.
The LFG responded on Tuesday declaring it had not produced any new wallets, or moved bitcoin or other electronic currencies close to due to the fact May well 2022. It also posted its wallet tackle on Twitter.
But CryptoQuant replied: “That’s the general public 1,” suggesting the Luna Foundation Guard has a different wallet address not explicitly connected to the nonprofit.
Kwon also refuted the statements of bitcoin currently being moved.
He stated on Twitter that there was no try to “cashout” and that he’s not made use of KuCoin or OKX in “at the very least the last 12 months.” He additional that no resources of Terraform Labs, LFG or other entites have been frozen.
KuCoin explained to CNBC on Wednesday that it is “ready to cooperate with any global regulation enforcement organizations when it comes to situations of investigations pertaining to the origin and freezing of suspected property.”
It added that in relation to Kwon and the ask for by South Korean prosecutors to freeze money joined to the crypto founder, “we would like you to to start with handle the challenge to any connected authorities and make clear their stance about the subject.”
CNBC informed KuCoin it experienced by now spoken to authorities. A KuCoin spokesperson reported the business “can not disclose any particulars in purchase not to interfere with the scenario.”
OKX has not yet responded to a request for remark.
