{"id":118144,"date":"2023-07-05T11:18:08","date_gmt":"2023-07-05T11:18:08","guid":{"rendered":"https:\/\/dripp.zone\/news\/massive-5292-bitcoin-btc-linked-to-terra-founder-do-kwon-on-the-move-crypto-news\/"},"modified":"2023-07-05T11:18:10","modified_gmt":"2023-07-05T11:18:10","slug":"massive-5292-bitcoin-btc-linked-to-terra-founder-do-kwon-on-the-move-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/massive-5292-bitcoin-btc-linked-to-terra-founder-do-kwon-on-the-move-crypto-news\/","title":{"rendered":"Massive 5292 Bitcoin (BTC) Linked To Terra Founder Do Kwon On The Move\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Terraform Labs (TFL) and co-founder <strong>Do Kwon<\/strong> have moved Bitcoin and other crypto assets worth millions in the last few months.  The remaining <strong>5,292 Bitcoins<\/strong> linked to the <strong>Luna Foundation Guard<\/strong> (LFG) and Do Kwon also moved to another crypto wallet earlier this week, reported South Korean news media on July 5.<\/p>\n<h2>All Bitcoin Withdrawn From Wallet Belonging To Do Kwon and LFG<\/h2>\n<p>Someone moved all 5,292 BTC worth <strong>$163 million<\/strong> from a Binance wallet of the Luna Foundation (LFG) to an unknown wallet on Monday, reported South Korean media that claims to be tracking wallets belonging to TFL, LFG, and Do Kwon.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>The US Securities and Exchange Commission (SEC) said Do Kwon and TFL secretly transferred 10,000 BTC to a cold wallet after the Terra-LUNA crisis.  Do Kwon continues to transfer Bitcoin from the cold wallet to crypto bank Sygnum and cashed out millions until now.<\/p>\n<p>The latest transfer happened from the LFG crypto wallet which was opened in January 2021. According to on-chain data, 5292 BTC in the LFG wallet was deposited into an unknown wallet.<\/p>\n<p><strong>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" title=\"Twitter CEO Officially Discloses Reasons For \u201cRate Limits\u201d And Other Policy Changes\" href=\"https:\/\/coingape.com\/twitter-ceo-officially-discloses-reasons-for-rate-limits-and-other-policy-changes\/\">Twitter CEO Officially Reveals Reasons For \u201cRate Limits\u201d And Other Policy Changes<\/a><\/strong><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2>Other Withdrawals by Terra Founder and TFL<\/h2>\n<p>Terra co-founder Do Kwon and TFL have withdrawn Bitcoin and other crypto assets worth millions during court proceedings in Montenegro.  Terraform Labs <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/breaking-terraform-labs-moves-tokens-worth-millions-a-year-after-terra-luna-crisis\/\">transferred 1.8 million to Convex Finance<\/a> (CVX) tokens worth almost <strong>$8.7 million<\/strong>,<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Meanwhile, stablecoins worth $400,000 and Terra Classic (LUNC) worth $150,000 were reportedly withdrawn from wallets. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/do-kwon-terraform-labs-withdraw-millions-after-terra-luna-crisis\/\">managed by Terra co-founder Do Kwon<\/a> to a separate wallet in May. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/breaking-prosecutors-track-crypto-worth-millions-belonging-to-do-kwon-and-terra\/\">South Korean prosecutors claimed<\/a> Terra co-founder or an affiliate transferred crypto assets worth <strong>$29 million <\/strong>since his arrest.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/is-terra-founder-do-kwon-really-withdrawing-lfg-related-bitcoin-in-serbia\/\">CoinGape earlier reported<\/a> that Terra co-founder Do Kwon exchanged Bitcoin worth $190K from the Luna Foundation Guard for cash in Serbia.<\/p>\n<p>last month, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/us-sec-seize-terra-founder-do-kwon-crypto-assets-in-swiss-bank\/\">Swiss prosecutors freeze crypto assets<\/a> and fiat currency related to Terraform Labs and co-founder Do Kwon in Sygnum at the request of the New York Federal Prosecutors Office and the US Securities and Exchange Commission (SEC).<\/p>\n<p><strong>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" title=\"Breaking: Financial Authorities Prepare For Crypto Asset Regulation\" href=\"https:\/\/coingape.com\/breaking-south-korea-prepares-for-second-phase-of-crypto-asset-regulation\/\">Financial Authorities Prepare For Crypto Asset Regulation<\/a><\/strong><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<div class=\"quads-location quads-ad86313 \" id=\"quads-ad86313\" style=\"float:none;text-align:center;padding:0px 0 0px 0;\">\n<!--   --><\/p>\n<p><!-- \n\n<div class=\"ad-container-layout\">\n      \n\n<div class=\"ad-container\">\n        <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bit.ly\/3JbHb8M\">\n          <noscript><img decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/06\/05005321\/bitget11-1.png\" alt=\"bitget-images\" class=\"ad-image\" style=\"\n    width: 95%;\n\"><\/noscript>\n        <\/a>\n        \n\n<div class=\"ad-content\">\n          <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bit.ly\/3JbHb8M\">\n            <span class=\"ad-title\">Bitget is a Leading Derivatives Trading Platform. 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He is currently covering all the latest updates and developments in the crypto industry.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD153418\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  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The remaining 5,292 Bitcoins linked to the Luna Foundation Guard (LFG) and Do Kwon also moved to another crypto wallet earlier this week, reported South Korean news media on July 5. All Bitcoin Withdrawn [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":91420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-118144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=118144"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118144\/revisions"}],"predecessor-version":[{"id":118145,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118144\/revisions\/118145"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/91420"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=118144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=118144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=118144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}