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Terra founder clears his stance after LFG denies moving Bitcoin

Do Kwon, Terraform Labs founder and CEO, dismisses the controversy surrounding the current cashout charges. Do Kwon claims in his most recent tweet that he was not involved in the alleged transfer of 3,310 Bitcoins (BTC). Earlier Singapore-based Luna Foundation Guard (LFG)  denied Bitcoin transactions from its wallets.

In a tweet on September 28, Terra founder Do Kwon refuted claims that he had transferred Bitcoin from LFG wallets to the cryptocurrency exchanges KuCoin and OKX. Even the founder of Terra asserts that he hasn’t utilised OKX or KuCoin in more than a year. He believes a lot of false information is being published about him.

He further affirms that neither the money of TerraForm Labs nor the Luna Foundation Guard (LFG) have been frozen.

South Korean prosecutors had previously requested that KuCoin and OKX seize $67 million in Bitcoin linked to Do Kwon after discovering fund transfers from LFG wallets. However, LFG denied any Bitcoin or other token transfers since the Terra-LUNA conflict in May in a tweet. Furthermore, no new wallets have been created to facilitate the transfer of cash.

“The LFG treasury’s BTC wallet is: bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q. LFG hasn’t created any new wallets or moved BTC or other tokens held by LFG since May 2022.”

Red Notice issued by Interpol 

Interpol issued a red notice to Terra founder Do Kwon after South Korean prosecutors increased their probe. Prosecutors and Interpol are actively looking for Terra’s founder, who is still responding to Twitter messages. Police in Singapore have also confirmed that he is no longer in the city-state. Do Kwon stated that he is not on the run and is working with authorities.

Meanwhile, Terra tokens LUNC and LUNA continue to plummet following the issuance of an arrest order for Do Kwon.

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