News

Do Kwon Is Looking For Cash In Serbia From 9.64 BTC Transactions

Key Points:

  • Do Kwon is looking for cash in Serbia.
  • He transferred 9.64 BTC (worth almost $190,000) from LFG wallet to Bitcoin wallet.
  • Arrests are still difficult because Serbia and South Korea also do not have extradition records.
Do Kwon is looking for cash in Serbia during the run. On-chain data noted there was a movement of 9.64 BTC ($190,000 at the time) from LFG wallets to Bitcoin wallets, South Korean media reported.

According to the data, this displacement appeared from November 8 after he was identified to have entered Serbia. This is the first time he has come across the situation of exchanging bitcoins for cash like dollars while on the run.

Approximately 9.64 BTC was transferred from the LFG-owned wallet to the Binance wallet. Source: Digital Asset

Reportedly, South Korean prosecutors believe that Do Kwon recently entered Serbia, where it is relatively easy to deposit and withdraw cryptocurrencies, and withdrew the absconding amount and is currently investigating.

Serbia and South Korea also have no extradition records. In the prosecution industry, if the bitcoin being laundered is transferred to a Binance wallet, it is considered converted into legal tender, such as US dollars.

It is known that Serbia has installed ATMs that can exchange bitcoins in the capital Belgrade and elsewhere.

Previously, Digital Asset reported on November 30 that “CEO Kwon transferred approximately 6983 BTC (about $121.5 million at the time) from Binance’s LFG wallet to an unknown wallet.” At this point, withdrawal status is not disclosed.

The arrest of the founder of Terra is still difficult despite the Government opening a lengthy investigation a few months ago. Reportedly, the Korean Ministry of Justice is requesting cooperation from the Serbian government, and investigating agencies are investigating whether there are special facilitators in Serbia.

Do Kwon has repeatedly denied most of the allegations in interviews with other media, claiming via channels like Twitter that he “didn’t run away”. The Securities and Financial Crimes Unit of the Seoul Southern District Prosecutor’s Office received an arrest warrant for Kwon on charges of providing false information to investors in September.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

Coincu News

Victor

Recent Posts

FLOKI Announces Dubai Takeover with WAFI Mall Campaign

Miami, Florida, 5th November 2024, Chainwire

17 mins ago

BlockDAG X1 App Receives Huge Response From Community, Hiting Over 200K Users! Latest on Bitcoin & Chainlink Prices

Want to learn about Bitcoin and Chainlink's prices? See why BlockDAG with its X1 app…

38 mins ago

Bitcoin Mining Difficulty Tops 100T Hash for the First Time

New ATH for Bitcoin’s average hashrate, combined with Bitcoin mining difficulty surpassing 100 trillion hashes,…

1 hour ago

US Presidential Election Drives Bitcoin Price Back to $70,000

Bitcoin's price rose 3% to $70,200, influenced by excitement surrounding the US presidential election.

2 hours ago

Xinteria Surpasses $1 Billion in Trading Volume, Unveils Innovative Market-Making Technology

NY, United States of America, 5th November 2024, Chainwire

2 hours ago

Top DePIN Crypto Projects With Huge Airdrop Potential

This Coincu's article presents a curated list of the top DePIN crypto projects with airdrop…

2 hours ago

This website uses cookies.