Yesterday, it was reported that Luna Foundation Guard [LFG] transferred roughly 3313 Bitcoins worth over $69 million to two crypto exchanges operating outsideĀ South Korea. The sameĀ was reportedlyĀ carried out shortly after the arrest warrant for Kwon was issued on the 14th of September.
Furthermore, it was also revealed that South Korean prosecutors managed to freeze some of the transferred Bitcoin. It was brought to light that the LFG abruptly created a wallet on Binance on the 15th of September, soon after which 3313 BTC was transferred to both Kucoin and OKX wallets.
At press time, the Luna Foundation Guard has denied moving funds and opposed other prosecutor allegations too. In a recent tweet, it asserted that it did not create any new wallets nor had it moved Bitcoin or any other tokens held by it since May this year.
Do Kwonās latest tweet further echoed the same narrative. The Terra founder claimed that thereās been no cashout per se, nor had he used KuCoin or OKEX over the past year. He also asserted that no funds of Terraform Labs or Luna Foundation Guard or any other entity have been frozen.
To believe or not believe?
Evidently, Do Kwon and the LFG have been dodging every contention made by regulators and prosecutors. Even though they have ācircumstantial evidenceā against the Terra founder, he has not officially been proven guilty.
However, it should be noted that international organizations like Interpol have stepped into the picture and are on the hunt for Kwon. Resultantly, question marks hang around the credibility of Kwon or LFGās assertions at this stage.
FatManTerraāa member of the Terra Research Forumātook Twitter to highlight that he was ānot sureā about whom to believe. He, however, encouraged Kwon to publish a breakdown and other evidence for clarity.
In the same thread, he further went on to state that he would ālean towards believing Do Kwonā this time. Elaborating on the same, heĀ tweeted,
āTo be honest, even though I havenāt seen the ānon-publicā transaction evidence myself, for once, I would lean towards believing Do Kwon on this one. Chain analysis isnāt foolproof so these flows canāt be tracked with 100% certainty (unless there are some secret Binance subpoenas).ā