After his arrest, Do Kwon is said to have transferred $ 29 million of cryptocurrencies into a mysterious wallet

After his arrest, Do Kwon is said to have transferred $ 29 million of cryptocurrencies into a mysterious wallet

Dan Sunghan-Director of the Office for Financial Crime with the Seoul public prosecutor's office-claimed that the former crypto-mogul do Kwon had transferred almost $ 30 million in digital currencies in an unknown wallet shortly after his arrest in Montenegro.

The 31-year-old South Korean was exposed to violent criticism and was accused of being involved in the massive collapse of Luna/USD last year, causing losses of several billion investors. According to reports, he was on the run for several months before he was arrested by the Montenegros authorities in March this year. The chances are good that he will be delivered to the USA or South Korea and is on trial there.

Kwon's suspicious crypto business

according to Sunghan, co-founder of Terraform Labs-Do Kwon or someone from his inner circle Translated Preserver-Spaces = "True"> The crypta was made from a bag Luna Foundation Guard (LFG) removed and paid out later. The prosecutor said the judges tried to find out where the shifted funds had landed:

"We assume that do Kwon or someone under his leadership canceled the amount and moved to another wallet, not to Sygnum and paid it somewhere else."

This is not the first time that Kwon's name is associated with confusing transfers. The US stock exchange supervisory authority SEC (Securities and Exchange Commission) recommended Preserver-Spaces = "True"> At the beginning of the year he announced that he had paid 10,000 Bitcoin shortly after the Terra crash. The supervisory authority claimed that he had used a Swiss bank that was not mentioned by name to carry out the transaction.

Another current report specified preserver-spaces = "true"> that the developer before the Luna/USD case $ 9 billion (almost 7 million US dollar) to the law firm) Kim & chang. Nevertheless, the company's lawyers refused to reveal further details on the matter and said:

"We cannot provide any specific information about individual cases. We carried out our legal advice as usual and received the fee lawfully."

Kwons unknown future

Numerous authorities, supervisory authorities and fallen investors made Kwon responsible for the main culprit behind the collapse of Terra, but Kwon did not help his case because he failed to work with the responsible authorities when solving the problem. Instead, he fled from his homeland and supposedly changed several travel destinations last year, including the United Arab Emirates, Mauritius, the Seychelles, Russia and others

Several sources reported at the end of 2022 he appeared in Europe, especially in Serbia. The hunting was so intense that it even attracted the attention of interpol, which published a red ad for him.

Despite his successful maneuvers against the law enforcement authorities, Kwon was finally finished Montenegro in March. His arrest took place at the airport of the capital Podgorica when he carried a fake passport with him, which indicated that he was about to move to another country.

The South Korean spent some time in a local correctional facility before requesting his release against a deposit of $ 440,000. The application was initially rejected by a Supreme Court in Montenegro, but later from the basic court podgorica.

Still, his problems seem to be far from being solved. Both the United States and South Korea insisted on Kwon's delivery. If he is found guilty in America, he threatens over 100 years in prison, while the maximum sentence in his home country could be 40 years.

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