Did Terra founder do Kwon stolen millions of US dollars in Bitcoin again?

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Entwendete Do Kwon schon wieder Millionen US-Dollar in Bitcoin? Die südkoreanischen Medien sind alarmiert: Terra-Gründer Do Kwon soll erneut Millionen US-Dollar in Bitcoin entwendet haben. Dieses Mal handelt es sich um eine beträchtliche Summe von 5.292 BTC, die bereits 2022 der Luna Foundation Guard (LFG) gehörte. Die LFG wurde als gemeinnützige Organisation gegründet, um das Terra-Ökosystem zu stärken. Sie verwaltete eine große Reserve, wobei der Hauptteil in Bitcoin angelegt wurde. Die Reserve sollte eigentlich zehn Milliarden US-Dollar wert sein. Doch nachdem die Kryptowährung Terra im Mai 2022 zusammenbrach, musste ein Großteil der Reserve verkauft werden, um den Kollaps des Ökosystems …
Did Kwon already stole millions of US dollars in Bitcoin? The South Korean media are alerted: Terra founder Do Kwon is said to have stolen millions of US dollars in Bitcoin again. This time it is a considerable sum of 5,292 BTC, which already belonged to the Luna Foundation Guard (LFG) in 2022. The LFG was founded as a non-profit organization to strengthen the Terra ecosystem. She managed a large reserve, with the main part in Bitcoin. The reserve was supposed to be worth ten billion US dollars. But after the Terra cryptocurrency collapsed in May 2022, a large part of the reserve had to be sold to the collapse of the ecosystem ... (Symbolbild/KNAT)

DO CHON already stole millions of US dollars in Bitcoin?

The South Korean media are alerted: Terra founder Do Kwon is said to have stolen millions of US dollars in Bitcoin again. This time it is a considerable sum of 5,292 BTC, which already belonged to the Luna Foundation Guard (LFG) in 2022.

The LFG was founded as a non-profit organization to strengthen the Terra ecosystem. She managed a large reserve, with the main part in Bitcoin. The reserve was supposed to be worth ten billion US dollars. But after the Terra cryptocurrency collapsed in May 2022, a large part of the reserve had to be sold to prevent the collapse of the ecosystem.

At that time there were assumptions that the LFG leadership could have misappropriated money. A certain Bitcoin address-BC1QNFS8PXQJRQKCD7706SLN0R70NSLGQXKZ8AA0J9YFK2980SLVYQ-was the focus of the investigation. This address was the last Wallet of the LFG with available Bitcoin from the original reserves. On October 3, 2023, around 5,292 BTC worth over $ 160 million were transferred to an unknown wallet.

South Korean news portals such as Digital Asset suspect that do Kwon could have become active again. The temporal connection between the transaction and the loss of funds through state intervention suggests this suspicion. However, the question arises whether Kwon was actually able to carry out this transaction because he is currently in Montenegrin.

According to Digital Asset, Do Kwon has personal access to the blockchain address concerned. It is an account that he opened in January 2021 at the Krypto exchange Binance. However, it is unclear whether this information is reliable.

The stolen millions were transferred to the Wallet BC1QS6CVAD3KX9HN7WN32D0R2RWMPP5HTFRPN888H044S42LX552SE40Q6FQEXU, which was apparently only recently created. It could be a non-custodial wallet that was either created by Do Kwon itself to have better access to the money or to avoid external effects. However, it remains open whether the wallet actually belongs to Kwon or whether it is used by another party.

The exact background of this renewed waste of millions of US dollars in Bitcoin remain unclear for the time being. It remains to be seen how the situation develops and whether do Kwon can be held responsible for embezzlement.