{"id":68155,"date":"2022-10-05T19:41:17","date_gmt":"2022-10-05T16:41:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68155"},"modified":"2025-09-07T12:33:38","modified_gmt":"2025-09-07T09:33:38","slug":"do-kwon-denies-involvement-in-39-6-million-frozen-by-authorities","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/do-kwon-denies-involvement-in-39-6-million-frozen-by-authorities\/","title":{"rendered":"Do Kwon denies involvement in $39.6 million frozen by authorities."},"content":{"rendered":"<p>CEO Terraform Labs (TFL) Do Kwon denied reports of his involvement with $39.6 million in cryptocurrencies, access to which was blocked by prosecutors in South Korea.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I don&#8217;t get the motivation behind spreading this falsehood \u2014 muscle flexing? But to what end?<\/p>\n<p>Once again, I don&#8217;t even use Kucoin and OkEx, have no time to trade, no funds have been frozen.<\/p>\n<p>I don&#8217;t know whose funds they&#8217;ve frozen, but good for them, hope they use it for good \ud83d\ude4f <a href=\"https:\/\/t.co\/gSucKfqsxj\">https:\/\/t.co\/gSucKfqsxj<\/a><\/p>\n<p>\u2014 Do Kwon \ud83c\udf15 (@stablekwon) <a href=\"https:\/\/twitter.com\/stablekwon\/status\/1577639160692854784?ref_src=twsrc%5Etfw\">October 5, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On 5 October, the Korean outlet <a href=\"https:\/\/www.news1.kr\/articles\/?4823515\">News1<\/a> reported that authorities froze 56.2 billion won allegedly belonging to Do Kwon.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;I don&#8217;t understand the purpose of spreading this falsehood \u2014 flexing muscles? But to what end? Once again, I don&#8217;t use KuCoin and OKEx; I have no time to trade. [\u2026] I don&#8217;t know what these funds are,&#8221;<\/em> \u2014 he explained.<\/p>\n<\/blockquote>\n<p>News1 reported that the platforms froze 3,313 BTC linked to Luna Foundation Guard (LFG). The organization and Do Kwon most recently <a href=\"https:\/\/u1f987.com\/en\/news\/terraform-labs-call-the-investigation-into-do-kwon-politicised\">denied<\/a>.<\/p>\n<p>Earlier <a href=\"https:\/\/u1f987.com\/en\/news\/3313-btc-linked-to-luna-foundation-guard-moves\">a movement of 3,313 BTC<\/a> from the LFG wallet to Binance and onto the KuCoin and OKX platforms between September 15 and 18.<\/p>\n<p>Earlier, a South Korean court <a href=\"https:\/\/u1f987.com\/en\/news\/seoul-court-issues-arrest-warrant-for-do-kwon\">issued an arrest warrant<\/a> for the head of the company Do Kwon and five others. According to reports, prosecutors 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 their passports<\/a>.<\/p>\n<p>On 17 September Do Kwon stated that <a href=\"https:\/\/u1f987.com\/en\/news\/do-kwon-denies-reports-that-he-is-on-the-run\">he is not on the run<\/a> and is cooperating with law enforcement. He stressed that he does not intend to reveal his location to outsiders.<\/p>\n<p>On 19 September, the Financial Times reported that South Korean authorities sent Interpol <a href=\"https:\/\/u1f987.com\/en\/news\/ft-reports-south-koreas-interpol-request-regarding-do-kwon\">a request for a Red Notice<\/a> for the head of TFL. Later reports indicated that <a href=\"https:\/\/u1f987.com\/en\/news\/media-interpol-issues-red-notice-for-do-kwon\">the request was granted<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CEO Terraform Labs (TFL) Do Kwon denied reports of his involvement with $39.6 million in cryptocurrencies, access to which was blocked by South Korean prosecutors.<\/p>\n","protected":false},"author":1,"featured_media":68156,"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":[974,852],"class_list":["post-68155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-south-korea","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\/68155","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=68155"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68155\/revisions"}],"predecessor-version":[{"id":68157,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68155\/revisions\/68157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68156"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}