Korean authorities have ordered the freezing of $67 million worth of Bitcoin linked to Do Kwon

South Korean authorities have demanded that Terra blockchain developer Terraform Labs return 3,313 bitcoins (BTC) to crypto exchanges OKX and Kucoin linked to Do Kun.

Kwon, who is currently on the run from Korean authorities in a security breach case, created a new wallet on September 15, a day after a Korean court issued an arrest warrant for the fugitive crypto founder.

According to crypto analytic group CryptoQuant, a new BTC wallet was created under the name Luna Foundation Guard (LFG) and a total of 3,313 BTC was then transferred to the KuCoin and OKX exchanges.

KuCoin received a total of 1,354 BTC, which was frozen immediately after the transfer, while OKX reportedly ignored the authorities’ request. Therefore, a total of 1,959 BTC cannot be frozen and can be transferred to other platforms.

Cointelegraph reached out to both crypto exchanges for confirmation but did not receive a response at the time of publication.

The movement of BTC from the LFG wallet has raised many eyebrows because Kwon has previously used all of his BTC in tLFG reserves to counter the TerraUSD Classic (USTC) peg.

Related: Terra’s founder, Do Kwon, said he was ‘making every effort to hide’ following the Interpol notice.

Before the arrest warrant was issued on Sept. 14, Kwon said he was not under investigation or in contact with any authorities, despite extensive investigations in South Korea. However, after the arrest warrant was released, Kwon reportedly fled Singapore, forcing authorities to seek help from Interpol.

On September 26, Interpol issued a red notice against Kaun, confirming his escape. Yet, despite all the evidence and the international notice against him, Coon continues to tweet regularly asking otherwise.

The collapse of the $40 billion Terra ecosystem wiped out nearly a trillion dollars from the crypto market. Even after such an uproar, Khun continues to receive support from some sections of the public, maintaining that he is innocent and that he lost everything in the fall.