Do Kwon, Luna Foundation Guard Deny Link to $62M in Bitcoin So | .

Do Kwon, Luna Foundation Guard Deny Link to $62M in Bitcoin Sought by Authorities

South Korean authorities are seeking to freeze more than $60 million worth of Bitcoin linked to Terra co-founder Do Kwon, several outlets reported. The request was reportedly lodged with crypto exchanges OKX and KuCoin, in relation to some 3,313 Bitcoin, worth around $62 million at current prices.

Although prosecutors declined to say why they believe the bitcoin is linked to Kwon, research from analytics platform CryptoQuant has suggested that the funds were transferred by the Luna Foundation Guard (LFG) on September 15, the day after a Korean court issued an arrest warrant for Kwon. LFG is a Singapore-based organization erected to support the growth of the Terra ecosystem. Its members include Terra co-founder Do Kwon.

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