https://finbold.com/terras-do-kwon-...er-shortly-after-his-arrest-warrant-issuance/ As the widely-publicized saga of Terraform Labs continues to unravel, a suspicious transfer in Bitcoin (BTC) has been discovered from the cryptocurrency platform’s CEO Do Kwon immediately after his arrest warrant issuance. Indeed, shortly after the news broke out of South Korean prosecutors issuing an arrest warrant for the Terra (LUNA) CEO, around 3,313 BTC were suddenly transferred from Do Kwon to two overseas cryptocurrency exchanges, CoinDesk Korea reported on September 27. Crypto wallet suddenly appears Considering the price of Bitcoin at press time, this means that the amount transferred to KuCoin and OKX wallets was worth around $66.65 million. The transfers were made from a Luna Foundation Guard (LFG) crypto wallet that was created on September 15, one day after the arrest warrant was issued for Do Kwon citing broken securities laws. As CoinDesk Korea writes: “The Luna Foundation Guard (LFG) virtual asset wallet that was suddenly created on September 15th on Binance, the world’s largest virtual asset exchange. About 3313 BTC was transferred to Kucoin and OKX wallets.” As a reminder, Do Kwon established LFG as a non-profit organization with an aim to protect the price reserves of LUNA. As per data from the crypto data analytics platform CryptoQuant, 3,313 Bitcoin were transferred to KuCoin from September 15 to 18, whereas OKX received 1,959 BTC. Freezing the transfers At the same time, South Korean prosecutors have made steps toward freezing assets linked to Do Kwon, sending requests to both KuCoin and OKX to freeze the transferred 3,313 BTC, Bloomberg’s Sangmi Cha and Tanzeel Akhtar reported on September 27. According to CoinDesk Korea, KuCoin froze 1,354 BTC of the transferred assets, whereas OKX ignored the request because the 1,959 may have already been moved to another exchange. Do Kwon still insists he’s not running Meanwhile, after denying he was on the run after the issuance of the arrest warrant a week ago, Do Kwon again took to Twitter to reiterate that he was not hiding from the authorities, as he said: In mid-August, Do Kwon broke his silence in his first public interview since his project’s collapse that started a devastating domino effect across the entire cryptocurrency landscape, as Finbold reported.
Misleading title of thread. A more appropriate title would be, "Man on the run is unsuccessfully trying to hide Bitcoin funds which will eventually get confinscated anyway" This has nothing to do with Bitcoin
Far more crime is done with US dollars. But the cant-be-bothered-to-do-math crowd won't realize this.
It could be used for money laundering purposes, for criminals to transfer BTC from A to B and no one in this world can detect / stop it. it could be used by someone to bypass sanctions and transfer BTC from A to B.
This is untrue yet often repeated by the anti-crypto crowd. Bitcoin is far more easily traced and tracked than paper dollars.
You are right to some extent. a few months ago, The US managed to recover some of the stolen cryptos from the Russians. but there are many missing cryptos that could not be recovered.
If you have money in the bank and something happened in your country or you have to leave your country as soon as possible how will take with you your money? BTC and blockchain are the best technologies after the internet.
Yes, BTC circumvents banking and government controls, and may well be the last and safest way to salvage assets from a country's economic collapse. It's a valid use case sold to the general public to justify its existence. BTC is also a means to launder millions and billions from drugs, prostitution, tax evasion and other crimes. Considering the development cost of BTC, I'm more inclined to believe dark money built the system.