Cryptocurrency fraudster stole $ 163 million in bitcoins from prison cell

Terraform Labs founder До Квон" href="https://noworries.media/biography/do-kvon/" data-bio-id="3665">Do Kwon, who is considered the world’s biggest cryptocurrency criminal, has once again impressed the public.

While in prison, Kwon managed to steal $ 163 million in bitcoin. According to Digital Asset analysts, the attacker made a transaction of 5292 BTC from the Luna Foundation crypto wallet to an anonymous account.

Back in May 2023, Do Kwon transferred 351 BTC from the same wallet, and in June, he made several test transactions of 0.0211 BTC. Experts are convinced that the fraudster was trying to understand how quickly the investigation would be able to notice such actions.

Currently, prosecutors have already seized 246.8 billion won ($ 190 million) in Kwon’s case and are going to freeze another 31.6 billion won ($ 24.25 million). «This is the biggest financial or securities fraud case ever in South Korea ,» said Dan Sung-han, the head of the investigation.

on April 20, Montenegrin authorities charged Do Kwon and his business partner after they were detained at the airport on March 23. They tried to leave Podgorica for Dubai with forged documents. As a result, the local prosecutor’s office accused the former head of Terraform Labs of forging official documents and filed a motion to extend the detention of Kwon and his partner Han Chang-joon.

In June, the Court of First Instance of Montenegro granted the motion to release Kwon and Jung on modified conditions. Bail in the amount of 400,000 euros was again approved, according to lawyer Branko Angelic. However, Kwon remains in prison.