Topic: South Korea Reportedly Freezes Do Kwon's Crypto Worth $40M — Luna Founder Says t - page 2. (Read 221 times)

His arrest will only be a matter of time, he cannot hide forever, no one harbors an international criminal like him. I am lucky not to invest in luna and not lose money from it but I follow all his news and I hope he pays for what he did but my relatives and friends lost a lot of money because of him. If he is not dealt with, the market will become more chaotic and disorganized, scammers will operate blatantly because there is no law to punish them, the market needs to be cleaned of these things.

I hope so. So many people lost their life caused by him. Im sure that if he was still owning some money that have not yet discovered. Only stupid people who believe what he was saying before. I remember when he said that he was moving all of funds to the binance but we didn't know what was happening with the funds caused by the funds mixed with all of money available in binance. He could steal it., I hope he will be jailed and all of his assets will be seized

Ouch, so worst case is that the authorities has not freeze any of Do Kwon's account or money, so I guess he is still scott-free with a ton of money that he is not willing to give to those who have lost their hard earn money when they invested on his project.

And with that, the authorities should really exercise their authorities but at the same time should be 100% that what they are freezing is not somebody's money but indeed it was Do Kwon.

We will have to see then, if the news is real or fake, and hopefully it's real as we have heard as well that Do Kwon has disappeared and I though that they have him in custody or something.

So for me, it's going to be a wait and see attitude, but I do hope that all his assets can be freeze, not just this one, maybe he still have far more Bitcoin and crypto something that is not on the centralized exchange and I think that is very important for the investigators to discover.

I don't think quite a lot of people care if the frozen funds belonged to Do Kwon or not, it could prolly be his and he is just denying it to save face, what people want to see happen is for Do Kwon to answer to all of the fraud/scam allegations levelled against him since the collosal crash of luna which caused quite a lot of people irrepairable damage. He denies being on the run, but it looks so to me, but i am pretty sure that sooner rather than later the law will definitely catch up with him.

Having said that, his situation and that of Luna should be a sort of lesson to people who invest in projects just because of hype, many of them (these projects) are basically pump and dump projects, and if you aren't lucky to sell when the hype is on, you might be devastated with the level of crash that will ensue afterwards, and that was the case with Luna investors, sorry to them anyway.

I wouldn't trust any Do Kwon's words because he wasn't transparent at the funds, I think he didnt provide any proof that funds were used to try to save the crash but instead most of the funds were moved to big exchanges and he only used a tweet that funds were used to peg UST but no blockchain link.

I hope he goes into jail because of the lives that he ruined and he doesn't take responsibility for anything, He got what he deserve for being too cocky.

blockchain doesnt lie, his a thief. He has funds in S.Korean exchanges
https://cointelegraph.com/news/42-5k-btc-reportedly-moved-from-luna-foundation-guard-wallet-as-ust-peg-crumbles

Whether or not the report is true doesn't matter; no one should be keeping that amount of money in a wallet owned and controlled by a third party.
- Not your keys; not your coins.

Centralized exchanges are means through which the government can regulate amd control a decentralized technology like Bitcoin. You do not own the funds, if you don't own the private keys.

South Korean authorities have reportedly frozen $40 million in crypto assets, including bitcoin, allegedly belonging to Luna founder Do Kwon. However, Kwon denied that any funds of his have been frozen. “I don’t even use Kucoin and Okex, have no time to trade, no funds have been frozen,” he insisted.
South Korean prosecutors have reportedly frozen nearly $40 million in crypto assets allegedly belonging to Terraform Labs co-founder Kwon Do-hyeong (also known as Do Kwon). Citing Korean publication News1, journalist Colin Wu tweeted Wednesday:

South Korean prosecutors have frozen $39.66 million of crypto assets, including BTC, owned by Do Kwon through two exchanges. Do Kwon and LFG previously denied trying to transfer their 3,313 BTC after being issued an arrest warrant.

The coins were frozen at cryptocurrency exchanges Kucoin and Okx, the publication noted, adding that the two trading platforms have agreed to freeze Kwon’s crypto at the request of the prosecution.

South Korean prosecutors revealed last month that they were seeking to freeze 3,313 bitcoins tied to Kwon that were transferred to Kucoin and Okx from a wallet allegedly linked to Luna Foundation Guard (LFG). However, the organization denied the allegation, insisting that it “hasn’t created any new wallets or moved BTC or other tokens held by LFG since May 2022.”

Following the news of the prosecutors freezing $39.66 million in crypto belonging to him, Kwon took to Twitter to deny that the frozen funds are his. “I don’t get the motivation behind spreading this falsehood – muscle flexing? But to what end?” the Luna founder tweeted Tuesday, adding:

Once again, I don’t even use Kucoin and Okex, have no time to trade, no funds have been frozen. I don’t know whose funds they’ve frozen, but good for them, hope they use it for good.
A South Korean court issued an arrest warrant for Kwon on Sept. 14. He is accused of fraud after the collapse of the cryptocurrency luna (now called luna classic (LUNC)) and stablecoin terrausd (UST). Moreover, Interpol has issued a Red Notice for him. “A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action,” Interpol’s website details, adding that “Red Notices are issued for fugitives wanted either for prosecution or to serve a sentence.”

The Luna founder’s whereabouts are currently unknown. He was believed to be in Singapore but the Singapore police force recently said that he is currently not in the city-state. Kwon has maintained that he is not “on the run,” tweeting recently that he is “making zero effort to hide.”

Source: https://news.bitcoin.com/south-korea-reportedly-freezes-do-kwons-crypto-worth-40m-luna-founder-says-the-funds-are-not-his/