24/7 Cryptocurrency News

Breaking: Do Kwon Linked 3,313 Bitcoin To Be Seized? S. Korea Deepens Probe

The South Korean authority has requested crypto exchanges KuCoin and OKX to seize around 3,313 Bitcoin linked to Do Kwon.
Published by
Breaking: Do Kwon Linked 3,313 Bitcoin To Be Seized? S. Korea Deepens Probe

Trouble for Do Kwon, Terra co-founder seems to be increasing after Interpol issued Red Notice against him. In the latest hit, South Korean authorities have moved on to deepen their probe against the alleged crypto fugitive.

Advertisement

Do Kwon to lose his Bitcoins?

According to reports, South Korean prosecutors are moving ahead to freeze digital assets linked to crypto fugitive Do Kwon. However, the authority is seeking to arrest Terra Chief on the suspicion of breaking securities laws.

The South Korean authority has requested crypto exchanges KuCoin and OKX to seize around 3,313 Bitcoin linked to Do Kwon. The estimated amount of Bitcoins under consideration stands at $66.9 million.

The report states that these Bitcoins were moved from various sources to a wallet named Luna Foundation Guard (LFG). A Seoul Southern District official declined to disclose the plan ahead. However, KuCoin and OKX officials refused to comment on the matter for now.

3,313 Bitcoins were sent from the LFG to different crypto exchanges soon after South Korea issued an arrest warrant against Do Kwon.

Advertisement

Terra head running from the probe?

Earlier, Coingape reported that a crypto fugitive Do Kwon recently issued his take over the Interpol launched probe against him.

Terra Chief in a Twitter interaction mentioned that he has made negligible effort to hide. While he added that he is going on walks and to malls. However, no one has approached him over the past weeks. Do Kwon added that he tried to search the red notice on Interpol’s website.

However, this is the first time in the last four months that Seoul Southern District Prosecutor and Securities Crimes Joint Investigation Team took a step to seize Do Kwon’s digital assets.

Do Kwon has been on the run after the historic crypto Wipeout. Terra’s stablecoin USTC and native token LUNA collapsed to ashes. This caused damage of around $62 billion to the global crypto market.

Advertisement

Share
Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

North Dakota To Issue ‘Roughrider’ Stablecoin Following Wyoming’s Footsteps

North Dakota is set to become the second U.S. state to issue a stablecoin, named…

October 8, 2025
  • 24/7 Cryptocurrency News

Ethena Labs and Jupiter Partner to Launch JupUSD Stablecoin on Solana

Ethena Labs reported that it has partnered with Jupiter Exchange to develop JupUSD. This is…

October 8, 2025
  • 24/7 Cryptocurrency News

BlackRock’s Bitcoin ETF Leads ETFs With $3.5B Weekly Inflows as It Eyes $100B in AUM

BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has become the most bought exchange-traded fund…

October 8, 2025
  • 24/7 Cryptocurrency News

MetaMask Launches Hyperliquid Perpetuals In-App, Plans To Integrate Polymarket

MetaMask has officially introduced perpetuals trading on its platform, powered by Hyperliquid. Meanwhile, the crypto…

October 8, 2025
  • 24/7 Cryptocurrency News

XRP Treasury Holdings Hits $11.5B as Nasdaq-Listed Reliance Global Adds $17M in Fresh Buy

XRP holdings in corporate treasuries have now surpassed $11.5 billion in value. This follows news…

October 8, 2025
  • 24/7 Cryptocurrency News

FOMC Minutes, Jerome Powell Speech: Will Bitcoin Recover or Retrace Further?

Bitcoin and altcoins falter ahead of the FOMC Minutes release and Jerome Powell speech due…

October 8, 2025