2023-07-08 16:01:02
Since the collapse of the Luna and Terra ecosystems, many people have been watching the developments and asset movements related to the case with suspicious eyes. According to a recent report, someone moved more than $160 million worth of bitcoins from a wallet linked to Luna Foundation Guard (LFG). This fund is associated with Terraform Labs and the founder of the entire ecosystem, Do Kwon. Coins related to the LUNA and Terra case continue to move The movement took place on July 3, when an unidentified party moved 5,292 bitcoins from an LFG address to a wallet that apparently has nothing to do with Terra. That’s more than $160 million worth of coins at current exchange rates. Incidentally, since the collapse of Terra in May 2022, such movements have occurred from time to time from wallets linked to LFG. The 5,292 bitcoins mentioned above were moved out of a wallet that had 6,983 bitcoins in October 2022. Since then, smaller movements have taken place, but with this current one, this wallet has been almost exhausted, as a total of 0.15 bitcoins remained on it. It should be mentioned that the South Korean press wrote regarding the wallet being linked to LFG, but this has not yet been confirmed by independent blockchain experts. Ironically, Luna Foundation Guard was founded precisely to offset the volatility of LUNA tokens by backing the project with TerraUSD coins. As we already know, it didn’t really work out. In the aggregate, it’s impossible to estimate how many digital devices founder Kwon and other unidentified individuals have moved since the Terra crash. In February, the US Securities and Exchange Commission (SEC) announced that Kwon and the Terra team might be accused of embezzling and money laundering at least $100 million in BTC. By the way, during the investigation of the case, the South Korean authorities identified 314 million dollars worth of crypto-assets, which can be linked to Kwon and his colleagues. It was only possible to close a part of it. By the way, Kwon is currently in prison in Montenegro for allegedly using fake documents.
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