Crypto exchange KuCoin and OKX told by authorities to freeze $67,000,000 Bitcoin linked to Do Kwon: Report

South Korean authorities have reportedly asked two cryptocurrency exchanges to freeze Bitcoin (BTC) worth tens of millions of dollars linked to Terra (LUNA) founder Do Kwon.

According to a new report from Bloomberg, South Korean prosecutors are asking crypto exchanges KuCoin and OKX to freeze 3,313 BTC linked to Kwon’s Luna Foundation Guard (LFG) crypto wallet worth about $67 million at the time of writing.

Citing a CryptoQuant analyst, South Korean officials claim that the wallet was created on September 15.

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“CryptoQuant has identified new Bitcoin addresses owned by LFG based on transaction patterns, adjacent flows, and non-public material information.”

The report says that an official from the Attorney General’s office confirmed the request although no KuCoin or OKX, formerly known as OKEX, was available to comment on the case.

Earlier this month, officials investigating Kwon asked Interpol to place a red notice on Kwon, claiming that his whereabouts were unknown.

On September 14, a South Korean court issued an arrest warrant for Kwon for allegedly violating the country’s financial laws.

Recently, Kwon Tell He has a million followers on Twitter who he did not hide from the police or from Interpol.

“Yes, as I said, I make no effort to hide. I go for walks and malls, by no means have I been met by any crypto surfers in the past two weeks.

However, Kwon’s fate is not known after leaving Singapore, according to the report.

In May, stablecoin issuer Terra collapsed after its algorithmic stablecoin decoupled from the dollar, eliminating nearly $60 billion from the market.

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