[국제]U.S. authorities “Kwon Do-hyeong stole 10,000 bitcoins and deposited them in a Swiss bank”

It is reported that Kwon Do-hyung, co-founder of Terraform Labs, the issuer of Terra USD and Luna, stole more than 10,000 bitcoins, converted them into cash, and deposited them in a Swiss bank.

Bloomberg News reported on the 17th local time that the US Securities and Exchange Commission pointed out this while accusing Kwon of fraud.

According to the indictment, CEO Kwon has kept 10,000 bitcoins in a ‘cold wallet’, a physical cryptocurrency storage that is not connected to the Internet, and has periodically transferred these funds to a Swiss bank since May of last year to convert them into cash.

10,000 bitcoins are worth 240 million dollars or 312 billion won at the latest market price.

The committee also said that Kwon withdrew more than $100 million from the Swiss bank in question from June last year until recently, but did not disclose the name of the Swiss bank.

The previous day, the committee filed a complaint once morest Kwon in federal court for fraud.

Kwon is accused of committing fraudulent acts worth at least 40 billion dollars, or regarding 51.7 trillion won, by providing and selling bearer securities, causing losses to individual and institutional investors.

Kwon advertised that UST maintains a one-to-one exchange rate with the US dollar, but the committee concluded this to be false.

It is known that Kwon moved his residence to Serbia at the end of last year.

Korean prosecutors issued an arrest warrant for Kwon on charges of violating the Capital Markets Act in September last year and are pursuing him.

YTN Jinho Kim ([e-mail])

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