South Korean authorities ordered crypto exchange platforms OKX and Kucoin to freeze 3,313 Bitcoin (BTC) reportedly tied to Do Kwon, co-founder of Terra.
Kwon, who is currently on the run from the authorities, reportedly created a new wallet on September 15 right after a Korean court issued an arrest warrant against him for alleged securities violations.
Explained, a total of 3,313 BTC was successfully transferred to OKX and Kucoin through a BTC wallet created under the name Luna Foundation Guard (LFG).
However, 1,354 BTC in KuCoin was frozen after the transfer while OKX did not, apparently ignoring the authorities' request.
Meanwhile, the movement of BTC from the LFG wallet caused investors concern because it contradicted Kwon's statement that he used all the BTC in tLFG to defend TerraUSD Classic (USTC).
Kwon also reportedly fled Singapore and forced the authorities to seek help from Interpol after an arrest warrant was issued.
However, Interpol issued a warning notice against Kwon in confirming his fugitive status and Kwon did the opposite by tweeting from time to time.
Clearly, the Terra community still supports Kwon even though the collapse of the $40 billion Terra ecosystem wiped $1 trillion from the crypto market because investors believed Kwon was innocent.
