- 3313 BTC was transferred to both the Kucoin and OKX wallets.
- This was allegedly done shortly after Kwon’s arrest warrant was issued on September 14th.
Luna Foundation Guard [LFG] transferred 3313 Bitcoins worth over $69 million to two cryptocurrency exchanges operating outside of South Korea. This was allegedly done shortly after Kwon’s arrest warrant was issued on September 14th.
South Korean prosecutors were able to freeze some of the transferred Bitcoin for the first time since the ordeal. On September 15th, it was revealed that the LFG abruptly created a wallet on Binance. Following that, 3313 BTC was transferred to both the Kucoin and OKX wallets.
It was also revealed that beginning on September 15, transactions worth 1354 Bitcoin were made to Kucoin via the LFG account on Binance. OKX received 1959 Bitcoin, which is approximately $39 million.
Prosecutors to Freeze the Bitcoin
The investigation has been overseen by the Seoul Southern District Prosecutor’s Office and the Securities Crimes Joint Investigation Team. While these transactions were being made public, the team contacted Kucoin and OKX, pleading with them to freeze the funds. While Kucoin decided to comply with the request, OKX allegedly ignored it.
Kwon has repeatedly claimed that he is not on the run and is in contact with government officials. However, a former prosecutor believes Kwon may have attempted to use the large sum of money as an evacuation fund. Furthermore, the prosecution is reportedly concerned about evading, laundering, or hiding after the arrest warrant is served. Moreover, the prosecution is aware that Kwon is likely to deny any involvement with the Bitcoin transfer. However, investigations as well as limiting Kwon’s funds were taking center stage.
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