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At the request of South Korean prosecutors, Interpol issued a Red Notice to Terra founder Do Kwon this week. Of special interest, the prosecutors also asked to freeze $67 million worth of Bitcoins belonging to the fugitive Terra founder. They took this action after finding a money trail linking back to Do Kwon.
According to a tweet from the Luna Foundation Guard, which is a Bitcoin reserve linked to Do Kwon, no tokens have been moved since May 22.
According to the South Korean prosecutors, they possess a verified statement that 3,313 Bitcoins — worth about $67 million – have been moved from wallets linked to Kwon’s Luna Foundation Guard to crypto exchanges KuCoin and OKX. These two exchanges have yet to respond.
This news caused quite a stir in the cryptocurrency community. Some believe that this is a victory for Bitcoin, while others are concerned about the implications this has for decentralized exchanges.
As per a crypto market researcher, a new wallet address believed to belong to LFG was created on September 15.
Interpol seeking Do Kwon whereabout
The founder of Terra replies to the tweets, stating that he does not have to conceal all he does is go out for walks and shop. Interpol has been seeking the whereabouts of the Terra creator, but Do Kwon remains cool
This month, Do Kwon was reportedly in Singapore. The Singapore police, on the other hand, have stated that Terra creator Do Kwon is no longer in town. Although Kwon has promised to assist with the investigation, his whereabouts are unknown.
The implosion of the Terra ecosystem earlier this year resulted in the loss of more than $60 billion in investors’ money. In recent weeks, regulators across the world, particularly in South Korea, have been keeping a close eye on Do Kwon’s movements.