Do Kwon denies involvement in mysterious bitcoin withdrawal

Terraform Labs founder Do Kwon published a post on Twitter denying allegations that he sent bitcoins from the Luna Foundation Guard Binance wallet to the balance of KuCoin and OKX crypto exchanges. The entrepreneur emphasized that he had not used the services of the platforms for over a year. Kwon said that a campaign was launched against him to discredit him.

What has been probably the most surprising in all this is the amount of misinformation that is being spread.

There is no «cashout» as alleged, I have not used kucoin or okex in at least the last year, and no funds of tfl, lfg or any other entities have been frozen. https://t.co/E1cbKgoqQz

— Do Kwon (@stablekwon) September 28, 2022

The CEO of Terraform Labs emphasizes that the funds of Luna Foundation Guard and Terraform Labs have not been frozen. Earlier, the South Korean prosecutor’s office sent a request to KuCoin and OKX to block the developer’s assets worth $ 67 million after recording transactions from LFG wallets.

According to a representative of Luna Foundation Guard, the platform has not transferred bitcoins or any other crypto assets since the May collapse of Terra (LUNA). South Korean law enforcement agencies assume that the founder of Terraform Labs created a new wallet in LFG and allegedly transferred cryptocurrency to the balance of the above exchanges.

Earlier, Interpol issued a «red notice «against Do Kwon. He was believed to be living in Singapore, but local authorities denied this on September 17. Law enforcement agencies are actively searching for the developer, while he boasts on Twitter that he is not going to hide and is ready to cooperate with law enforcement officials. The founder and CEO of TerraformLabs is accused by the South Korean authorities of violating the country’s financial markets laws. The country’s authorities are currently considering revoking Kwon’s passport.