Key Points:
The suspected anonymous address was created recently, and the first transaction took place on July 3. From July 3 to 5, the unknown address exchanged 18.73 million USDC for other tokens such as WBTC, ETH, stETH, and DAI through Uniswap, and other DEXs were sent to another anonymous wallet address as well as other DeFi projects.
Officials in the virtual asset industry said it appeared that Kwon’s accomplices, who have yet to be arrested, were attempting to withdraw money on a large scale.
According to previous news, the LFG wallet held by Do Kwon moved 5,292 BTC to the new address on July 3, or about $163 million. Prior to the transfer, the wallet withdrew 351 BTC on May 8.
LFG Wallet is a Binance wallet of the Luna Foundation, founded by Kwon in January 2021 for the purpose of protecting the price of LUNC (Terra Classic). The wallet holds the most significant amount of Bitcoin among Kwon’s on-chain assets.
A court in Montenegro has ordered that Do Kwon, a former crypto criminal, and his associate Han Chang-Joon remain in detention for an additional six months while judges review extradition requests from the courts. South Korean prosecutors and a separate extradition request for Kwon from the US authorities as he was accused by prosecutors of a series of fraud-related crimes.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
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Willemstad, Curaçao, 4th November 2024, Chainwire
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