{"id":67739,"date":"2022-09-27T13:20:44","date_gmt":"2022-09-27T10:20:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67739"},"modified":"2025-09-07T08:15:51","modified_gmt":"2025-09-07T05:15:51","slug":"3313-btc-linked-to-luna-foundation-guard-moves","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/3313-btc-linked-to-luna-foundation-guard-moves\/","title":{"rendered":"3313 BTC Linked to Luna Foundation Guard Moves"},"content":{"rendered":"<p>Shortly after a <a href=\"https:\/\/u1f987.com\/en\/news\/ft-reports-south-koreas-interpol-request-regarding-do-kwon\">request<\/a> by South Korean authorities to locate and arrest Terraform Labs CEO Do Kwon, 3313 BTC linked to Luna Foundation Guard (LFG) came into motion. CoinDesk Korea reports this, citing data from CryptoQuant.<\/p>\n<p><!--more--><\/p>\n<p>The funds were transferred from the LFG wallet to Binance, and onto the KuCoin and OKX platforms, between September 15 and 18.<\/p>\n<p>At the request of South Korean authorities, KuCoin froze 1,354 BTC. OKX ignored the request from law enforcement.<\/p>\n<p>Do Kwon recently stated that he has not taken any steps to hide from the authorities.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">I am not \u201con the run\u201d or anything similar \u2014 for any government agency that has shown interest to communicate, we are in full cooperation and we don\u2019t have anything to hide<\/p>\n<p>\u2014 Do Kwon \ud83c\udf15 (@stablekwon) <a href=\"https:\/\/twitter.com\/stablekwon\/status\/1571197156907679745?ref_src=twsrc%5Etfw\">September 17, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In May 2022, the Terra ecosystem <a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">crash<\/a> occurred, with serious consequences for the digital asset market. In an attempt to save the algorithmic stablecoin UST from devaluation, the non-profit Luna Foundation Guard <a href=\"https:\/\/u1f987.com\/en\/news\/luna-foundation-guard-drains-3bn-from-reserve-to-rescue-ust\">emptied the reserve fund<\/a>.<\/p>\n<p>The Terra collapse affected the solvency of major players in the industry: the crypto-lending platform Celsius <a href=\"https:\/\/u1f987.com\/en\/news\/what-happened-to-celsius-cel\">was one of the largest holders of UST<\/a>, and hedge fund Three Arrows Capital <a href=\"https:\/\/u1f987.com\/en\/news\/3ac-considers-asset-sales-to-rescue-the-company\">invested in LUNA<\/a> about $200 million as part of <a href=\"https:\/\/u1f987.com\/en\/news\/luna-foundation-guard-raises-1-billion-to-bolster-ust-stability\">the February token sale<\/a>.<\/p>\n<p>The situation around the project <a href=\"https:\/\/u1f987.com\/en\/news\/terra-ecosystem-collapse-draws-regulators-attention-in-south-korea\">drew the attention<\/a> of regulators in South Korea. The activities of TFL <a href=\"https:\/\/u1f987.com\/en\/news\/seoul-police-open-investigation-into-terraform-labs-employee\">attracted interest<\/a> of the Seoul Southern District Prosecutors&#8217; Office.<\/p>\n<p>In June 2022, investors <a href=\"https:\/\/u1f987.com\/en\/news\/do-kwon-accused-of-false-statements-about-terrausds-stability\">accused Terraform Labs (TFL) and Do Kwon personally<\/a> of false statements regarding the stability of UST.<\/p>\n<p>In the same month, the company&#8217;s CEO <a href=\"https:\/\/u1f987.com\/en\/news\/do-kwon-i-do-not-consider-myself-a-fraudster-and-i-believe-in-the-success-of-terra-2-0\">said that he does not consider himself a fraudster<\/a>. He also <a href=\"https:\/\/u1f987.com\/en\/news\/do-kwon-denies-allegations-of-withdrawing-2-7-billion-from-the-terra-ecosystem-ahead-of-its-collapse\">refuted the allegations of withdrawing $2.7 billion<\/a> from the Terra ecosystem before its collapse.<\/p>\n<p>In July, the Seoul Southern District Prosecutors&#8217; Office <a href=\"https:\/\/u1f987.com\/en\/news\/media-report-searches-at-terraform-labs-co-founders-home\">conducted searches<\/a> at the home of TFL co-founder Daniel Shin and at the office of an early investor in Dunamu &#038; Partners.<\/p>\n<p>In September, the Seoul Southern District Prosecutors&#8217; Office asked the Ministry of Foreign Affairs to <a href=\"https:\/\/u1f987.com\/en\/news\/seoul-prosecutors-seek-revocation-of-passport-for-terra-founder-do-kwon\">revoke the passports<\/a> of five people connected with Terraform Labs.<\/p>\n<p>As Bloomberg reports, Interpol <a href=\"https:\/\/u1f987.com\/en\/news\/media-interpol-issues-red-notice-for-do-kwon\">issued a \u00abred notice\u00bb<\/a> for the arrest of Do Kwon.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shortly after a request by South Korean authorities to locate and arrest Terraform Labs CEO Do Kwon, 3313 BTC linked to Luna Foundation Guard came into motion.<\/p>\n","protected":false},"author":1,"featured_media":67740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1166,1411,1291,852],"class_list":["post-67739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-kucoin","tag-okx","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67739"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67739\/revisions"}],"predecessor-version":[{"id":67741,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67739\/revisions\/67741"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67740"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}