Do Kwon denies involvement in $39.6 million frozen by authorities.

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.

I don’t get the motivation behind spreading this falsehood — muscle flexing? But to what end?

Once again, I don’t even use Kucoin and OkEx, have no time to trade, no funds have been frozen.

I don’t know whose funds they’ve frozen, but good for them, hope they use it for good 🙏 https://t.co/gSucKfqsxj

— Do Kwon 🌕 (@stablekwon) October 5, 2022

On 5 October, the Korean outlet News1 reported that authorities froze 56.2 billion won allegedly belonging to Do Kwon.

“I don’t understand the purpose of spreading this falsehood — flexing muscles? But to what end? Once again, I don’t use KuCoin and OKEx; I have no time to trade. […] I don’t know what these funds are,” — he explained.

News1 reported that the platforms froze 3,313 BTC linked to Luna Foundation Guard (LFG). The organization and Do Kwon most recently denied.

Earlier a movement of 3,313 BTC from the LFG wallet to Binance and onto the KuCoin and OKX platforms between September 15 and 18.

Earlier, a South Korean court issued an arrest warrant for the head of the company Do Kwon and five others. According to reports, prosecutors asked the Ministry of Foreign Affairs to revoke their passports.

On 17 September Do Kwon stated that he is not on the run and is cooperating with law enforcement. He stressed that he does not intend to reveal his location to outsiders.

On 19 September, the Financial Times reported that South Korean authorities sent Interpol a request for a Red Notice for the head of TFL. Later reports indicated that the request was granted.

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