5,292 Bitcoins (BTC) were transferred from a wallet known to belong to Terra CEO Do Kwon and the Luna Foundation Guard (LFG) to an anonymous wallet.
There was a remarkable activity in the wallet, which is known to be responsible for the Terra collapse and associated with Do Kwon, who was imprisoned in Montenegro. Do Kwon And Luna Foundation Guard from a wallet managed by $163 million worth of 5,292 BTC moved to an unknown wallet.
Considering that Do Kwon behind bars cannot technically do such a transaction, he is behind this transfer of millions of dollars. Person or persons associated with Kwon may be presumed.
Do Kwon has also been in the past. millions of dollars worth of cryptocurrencies transferred to different wallets, converted into cash, even A Bitcoin ATM in Serbia used to withdraw money.
On the other hand, while Kwon’s court proceedings continue, approximately 5,000 of the Terraform Labs-linked wallets 8.7 million dollars worth 1.8 million Convex Finance (CVX) transferred to anonymous wallets.
In this process $400,000 worth of stablecoins And Terra Classic (LUNC) worth $150,000was withdrawn to a different wallet from the wallets known to be managed by Terra co-founder Do Kwon last May.
The U.S. Securities and Exchange Commission (SEC) announced in early 2023 that Terraform Labs and Do Kwon are owned by the company. More than 10 thousand Bitcoins He stated that he had withdrawn to a separate cold wallet last year.
Do Kwon was convicted by a Montenegrin court for forgery of documents. 4 months in prison had been sentenced.