Do Kwon denies that frozen $ 40 million in crypto belong to him

Von Krypto News Österreich

  • Local media repeatedly report that Kwon's assets were frozen
  • kwon described the news in a tweet on Wednesday as a "muscle game", despite evidence in the chain

The controversial crypto figure Do Kwon defended itself against reports on Wednesday that prosecutors in South Korea would have frozen tens of million dollars in the cryptos belonging to it.

Local media have freezing at around 56.2 billion won (39.9 million US dollar) in various digital assets, including Bitcoin, defined, based on estimates of the Joint Financial Securities Crime Investigation Team of the public prosecutor's office of the southern district of Seoul.

kwon described the message as a "muscle game". The exact whereabouts of the CEO is currently not known, and an Interpol Red Notice has been published in which it is requested for his arrest.

He said that he does not keep himself hidden and has also rejected interpol claims by noting that he can be found in his living room when programming - wherever that may be.

The recent back and forth between the local authorities and Kwon follows the last month reports that the South Korean authorities had asked the local crypto exchanges OKX (formerly known as OKEX) and KUCOIN to freeze a total of 3,313 Bitcoin ($ 67.3 million), which allegedly belonged to the CEO. One day after issuing the Red Notice.

"Again, I do not even use Kucoin and Okex, I have no time to act, no funds were frozen," said the CEO on Wednesday. I don't know whose money you have frozen, but good for you, I hope you use it for the good. ”

kwon took the opportunity to do so Submit slands about the political party currently in Seoul, which is implied that for them was responsible for the detention of opposing politicians.

"It is no surprise that crypto is the most popular in countries who use state institutions against their own people for political reasons. Harn what they sow - revolutions start from the inside," he tweeted.

The CEO, whose failed stable coin project was held responsible for the recent turbulence of crypto and losses of $ 40 billion, is also sought by the local police.

In September, a court of the public prosecutor's office of the South district of Seoul issued six arrest warrants against former employees, including Kwon and the financial officials Han Mo, who were accused of violating securities and capital market laws.

The on-chain analysis is right with the allegations of the public prosecutor's office

Bitcoin transactions are pseudonymous, but the unchangeable recording of the blockchain makes funds easy to track.

On-chain- analysis The study carried out by Oxt Research and the frozen stock market values ​​and the Luna Foundation Guard seems (LFG) confirmed by Do Kwon to allegedly defend the VAT connection.

The LFG pointed out a wallet address that checked 313 BTC, in A tweet of September 28th "LFG has not created any new wallets since May 2022 or has postponed $ BTC or other tokens held by LFG".

oxt research denies.

The "Trail of the bread crumbs" combines the financing of the publicly declared walls of the LFG with a massive stock of bitcoins on the two stock exchanges.

"Since September 15, this sequence BTC has distributed around $ 65 million to the date of the respective deposits to Kucoin and Okex", Oxt Research said on Twitter and added: "My quick estimate of US dollar corresponds approximately to the values ​​last week in the Korean press were. ”

If the claims of do Kwon are true and the assets held by Kucoin and OKX are not connected to the LFG, the question remains: Whose bitcoins have been frozen?

Macauley Peterson contributed to reporting.

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The contribution do kwon denies frozen $ 40m in crypto is not is not financial advice.