It has been reported that 3313 Bitcoins with a total value of approximately $69 million were moved from the Luna Foundation Guard (LFG) to two cryptocurrency exchanges that are located outside of South Korea. A warrant for Kwon’s arrest was issued on September 14, and this allegedly occurred soon after.
The Luna Foundation Guard (LFG) cryptocurrency wallet is a new addition to Binance, the biggest virtual asset market in the world, and it appeared out of nowhere on September 15th. According to the study, approximately 3313 BTC was moved to wallets associated with Kucoin and OKX.
This indicates that the amount that was moved to KuCoin and OKX wallets is valued at about $66.65 million based on the price of Bitcoin at the time that this article was written. The merger team instantly noticed the transfer and requested that Kucoin freeze the 1354 BTC that had been moved.
On the other side, it has been reported that OKX is defying the request made by the prosecution to freeze their assets. The report said that as a result of this, 1959 BTC that had been transferred here may have relocated to another exchange.
According to the report, prosecutors are conducting a thorough investigation into the events surrounding the transfer, including the likelihood that the BTC that was moved may be used for activities such as money laundering, concealing, or attempting to escape from the authorities.
Prosecutors said:
In a normal criminal investigation, if a large amount of money is moved from the suspect’s account after the issuance of an arrest warrant, it is natural to conduct an intensive investigation with suspicion of laundering and concealment. We must first check whether it will be used as an evacuation fund.
