Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-09-28 12:12:40

Bitcoin Reserve Linked To Fugitive Do Kwon Opposes Moving Tokens

After a trail of currency movement prompted South Korean authorities to take action to seize assets, a Bitcoin reserve linked to the fallen crypto pioneer Do Kwon has denied transferring tokens. The Luna Foundation Guard (LFG) said on Twitter that it “has not created any new wallets or moved $BTC or other tokens held by LFG since May 2022.” Do Kwon’s Bitcoin Reserve The post was published after prosecutors on Tuesday tried to freeze assets connected to Kwon, an individual wanted in South Korea on suspicion of violating securities laws following the collapse of his Terraform Labs crypto ecosystem, which lost US$60 billion (RM277.08 billion). According to sources, the prosecution requested to freeze the 3,313 Bitcoins (currently worth US$67 million at current exchange rates) after transferring from a wallet connected to Kwon’s LFG to the crypto exchanges KuCoin and OKX. A response from KuCoin and OKX was not immediately available. Prosecutors have chosen not to respond to the LFG tweet. Interpol has been asked to assist South Korea in finding Kwon, whose Terra stablecoin project failed in May. After Singapore claimed earlier this month that he was no longer there, his whereabouts are unknown. On September 14, South Korean prosecutors said that a court had issued an arrest warrant for Kwon. TerraUSD Stablecoin’s Peg The primary mechanism to keep the TerraUSD stablecoin’s peg to the US dollar was a complicated combination of algor...

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.