Do Kwon Denies Cashing Out Bitcoin on Twitter

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In recent Luna news, Do Kwon, founder of Terraform Labs, took to Twitter to dismiss allegations that accused him of cashing out over 3 thousand Bitcoins.

With South Korean authorities intensifying their efforts to arrest Do Kwon, the Terraform Labs founder's whereabouts remain unclear.

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After the issuance of an Interpol Red Notice against Kwon, authorities have now seized about 3,313 Bitcoins, alleging that Kwon was in the process of cashing out BTC worth $61.9 million.

Do Kwon dismisses allegations accusing him of cashing out Bitcoins

Terra Luna founder Do Kwon took to Twitter to address the swirling rumours against him. In a tweet that addressed these rumours, Kwon slammed multiple media outlets for spreading misinformation about him.

In addition, Kwon denied cashing out Bitcoins that were earlier seized by the South Korean authorities.

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The South Korean authorities alleged that Kwon was in the process of cashing out $67 million worth of BTC via Okex and Kucoin.

In response to such rumours, Kwon stated that he hasn't used Kucoin and OKex since last year, further adding that 'no funds of TFL, LFG, or any other entities have been frozen.'

The tweet came after South Korean authorities reportedly contacted Okex and Kucoin to freeze BTC assets worth $67 million tied to Terra Luna founder Do Kwon.

In response to this, the Luna Foundation Guard came forward to issue clarifications, adding that LFG has not created any new wallets or moved any $BTC/tokens held by LFG since May 2022.

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Blockchain data analytics platform CryptoQuant was the first to report a dubious crypto wallet by the name of Luna Foundation Guard that was created on Binance on September 15.

3313 Bitcoins were transferred three days after the creation of the wallet to Kucoin and Okex, leading the authorities to suspect LFG and Kwon's intentions.

After denying being on the run several times, Kwon's location is still a mystery to authorities. An Interpol Red Notice has also been issued to capture Kwon.

Get the latest on Do Kwon, Luna 2.0 and Luna Classic.