South Korea wants to block 3,313 bitcoins, reportedly in contact with Luna founder Do Kwon.

South Korean prosecutors are seeking to freeze 3,313 bitcoins allegedly linked to two cryptocurrency exchanges. Do Kwon, founder of Luna. The coins have moved Not long after, a South Korean court issued an arrest warrant for the co-founder of Terraform Labs. A custodian of the Luna Foundation denied transferring the coins.

Korean authorities have asked crypto exchanges to suspend Bitcoin

South Korean authorities have reportedly asked Kucoin and Okx, the cryptocurrency exchanges linked to the 3,313 bitcoins of Terraform Labs co-founder Kwon Do-hyung, known only as Do Kwon, to freeze them. After a warrant was issued for Kwon’s arrest in South Korea, the coins were transferred to trading platforms.

On Tuesday, an official at the Seoul Southern District Prosecutor’s Office confirmed to Bloomberg that requests were sent to the two cryptocurrency exchanges to freeze 3,313 BTC.

They were transferred to trading platforms from a wallet allegedly linked to Luna Foundation Guard (LFG), which was created on September 15, according to the CryptoQuant researcher. The researcher for the publication:

CryptoQuant identifies new bitcoin addresses owned by LFG based on transaction patterns, neighborhood flows and material non-public information.

However, the Luna Foundation Defense denied the allegations on Tuesday evening. The group tweeted the treasury’s bitcoin address, adding: “LFG has not created any new wallets or moved BTC or other tokens held by LFG since May 2022.”

Do Kwon says: ‘I’m making zero effort to hide.’

The current whereabouts of Luna’s founder are unknown. He was believed to be in Singapore, but Singapore police said earlier this month that he was no longer in the city-state. Kwon said he was not “on the run.” Tweeting Monday:

I’m making zero effort to hide. I walk and go shopping.

A South Korean court issued an arrest warrant for Kwon on September 14. He was accused of fraud after the collapse of cryptocurrency Luna (now called Luna Classic (LUNC)) and stablecoin terrausd (UST). It is also said that the country’s Ministry of Foreign Affairs is planning to cancel his passport.

Moreover, Interpol issued a red notice for the co-founder of Terraform Labs. “A Red Notice is an international request to law enforcement for the search and provisional arrest of a person subject to extradition, surrender or similar legal action,” according to the Interpol website. judgement”

Do you think Khun transferred 3,313 bitcoins after the warrant was issued? And, do you think Korean authorities should be able to ban crypto on exchanges? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian economics student, discovered Bitcoin in 2011 and has been an evangelist ever since. His interests are in Bitcoin security, open source systems, network effects and the intersection between economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons

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