As recently reported, Luna Foundation Guard (LFG) transacted nearly $69M to a couple of crypto exchange platforms working outside the jurisdiction of South Korea. This was reportedly done soon after the issuance of the arrest warrant targeting Do Kwon (the founder of the LFG) on this month’s 14th.
LFG and Do Kwon Rejects Rumors of Transferring $69M Worth in BTC
In addition to that, it was disclosed that the prosecutors within South Korea remained successful in freezing a few of the assets in Bitcoin. As brought to the front, a wallet was immediately developed by the Luna Foundation Guard on the Binance crypto exchange on September 15th. As a result, nearly 3313 Bitcoin tokens were shifted to both the wallets OKX and Kucoin.
At present, the LFG discards the assertions of having moved the respective funds and refuted the rest of the allegations raised by the prosecutor also. A Twitter post that has recently been shared by the LFG points out that the company denies having created any unique wallets or shifted BTC or the rest of such tokens in its possession since May 2022. Apart from that, the new tweet by Do Kwon also presented the same story. According to Kwon, no cash-out has been carried out.
As per the founder of LFG, the platform has not utilized OKEX or KuCoin during the previous year. Kwon also emphasized that the Luna Foundation, Terraform Labs, and the rest of the venues did not freeze any funds. He added that a considerable amount of misinformation is revolving around the market. As is evident, the LFG and Do Kwon have been making every effort to dodge each contention created on the behalf of the prosecutors and regulators.
Although they possessed circumstantial evidence dealing with the founder of Terra, on the official basis he has not been proven guilty up till now. Nonetheless, a noteworthy thing is that Interpol and the rest of such international entities have jumped into the scene and taken great endeavours to arrest the founder of Terraform Labs. Consequently, several questions confront the assertions made by LFG or Kwon in this respect.
Terra Research Forum’s Member Supports Do Kwon
A participant of the Terra Research Forum, FatManTerra, additionally moved to his Twitter handle and provided his share on the respective topic. As indicated by him, he had several confusions in this matter and even did not know whom to believe in this scenario. Nonetheless, he supported Terraform Labs’ founder to issue a breakdown as well as the rest of the evidence to clarify his stance.
FatManTerra furthered his Twitter thread and mentioned that this time he would be ready to believe Do Kwon. In the same vein, he specified that no non-public transfer has yet been witnessed by him up till now. According to him, he would be leaned toward believing Do Kwon in the present situation. The person also asserted that no foolproof system is available in the case of chain analysis and no one can track the respective flows with a hundred percent accuracy.