LUNA Inventor Takes This Altcoin to Mystery Wallets!

LUNA Inventor Takes This Altcoin to Mystery Wallets!

Do Kwon, founder and CEO of Terraform Labs, has recently found himself in the legal spotlight. Following the Terra (LUNA) fiasco in May, the 31-year-old software developer received criticism for the way he handled the situation. However, there were no official arrest warrants against him until recently. Now, recent reports indicate that Kwon has been secretly moving his funds. Here are the details


LUNA inventor secretly moves funds

As Cryptoify.news reported, the collapse of the algorithmic stablecoin UST dragged the overall crypto market to a $ 40 billion drop. Kwon, on the other hand, attracted more attention for his handling of the situation. Recently, he has been making headlines in the legal sphere. According to the latest news, Kwon is secretly mobilizing his funds. Because fans believe that Kwon should finance his "life on the run".


LUNA inventor secretly moves funds

The development was highlighted by Jaewoo Choo, a Blockchain advocate and Assistant Professor at Hansung University. "Do Kwon just moved 250k USDC to a mystery account," Choo said in a tweet on Tuesday, sharing transaction details. According to data from Etherscan, Kwon's address 0xda44200196cfb3416bf011eed608f354804337ba transferred USDC worth 250 thousand dollars to an unknown wallet yesterday morning.


The wallet contains USDC and ETH worth $31 million

Following the transfer, the wallet has a balance of over $31 million USDC and ETH as of publication. The transaction sparked reactions in the crypto community. In particular, the famous Terra whistleblower FatMan shared his comments on the issue. FatMan said, "It must be tough living on the run. Are their main accounts being monitored?" he tweeted.  He also emphasized that the wallet still has over $30 million as its balance and informed the community that Do Kwon is not as poor as everyone believes. FatMan said the following:


TO BE CLEAR, THIS IS JUST A PERSONAL WALLET. THE VAST MAJORITY OF CASH PAYMENTS WERE MADE THROUGH ACCOUNTS IDENTIFIED WITH TFL, NOT SHADOW WALLETS. SO THIS AMOUNT IS MOST LIKELY A DROP IN THE BUCKET.

 

TO BE CLEAR, THIS IS JUST A PERSONAL WALLET. THE VAST MAJORITY OF CASH PAYMENTS WERE MADE THROUGH ACCOUNTS IDENTIFIED WITH TFL, NOT SHADOW WALLETS. SO THIS AMOUNT IS MOST LIKELY A DROP IN THE BUCKET.

In an interview with the Wall Street Journal in late June, Do Kwon said he had lost almost all his money in the Terra fiasco. Prior to the WSJ interview, Kwon said in his first interview after the Terra collapse that he bet big on the Terra project and lost. His wallet balance and FatMan's recent claims suggest that Kwon may have more money than he disclosed. In addition, his recent need for money has fueled the belief that he may be a fugitive.


South Korean authorities denied Kwon

As we reported, South Korean authorities have refuted Kwon's claims that he was cooperating with them. According to the authorities, Singapore police have confirmed that Kwon is no longer in the country. So, according to their statement, the Terra boss is currently "on the run from the law". These statements follow Kwon's claims that he is willing to cooperate with the relevant authorities. As part of efforts to apprehend Kwon, prosecutors have asked Interpol for a red notice notice, authorities said.

Source:  THECRYPTOBASIC 


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