• Terra (LUNA) Founder Transfers $250k in USDC to an Unknown Wallet Despite Being On The Run

  • Do Kwon recently transferred $250k in USDC to an unknown wallet, just days after a South Korean court issued an arrest order for him.

    Do Kwon, the founder and CEO of the now-defunct Terraform Labs, has lately been arrested. Following the Terra disaster in May, the 31-year-old software developer was chastised for his handling of the problem. Regardless, until recently, there was no legal warrant for his arrest.

    According to recent allegations, the Terra leader is discreetly shifting his cash, which supporters feel he needs to fund his “life on the run.” Jaewoo Choo, a Blockchain advocate and Assistant Professor at Hansung University, emphasized the trend.

    “Do Kwon just moved 250k USDC to a mysterious account,” Choo said in a tweet Tuesday, sharing the transaction details.

    According to etherscan data, Kwon’s address 0xda44200196cfb3416bf011eed608f354804337ba sent a stunning $250k worth of USDC to an unknown wallet on Tuesday at 7:47 AM (UTC).

    As of press time, the wallet had a balance of more than $31 million in USDC and ETH. The transaction has stirred debate in the crypto community, with famed Terra informant FatMan leading the charge.

    “Life on the run must be demanding. Are his main accounts being monitored?” FatMan commented on the development. He also stated that the wallet still has about $30 million in it, reminding the community that Do Kwon is not as poor as he has led everyone to believe.

    “To be clear, this is just one wallet and a personal wallet at that. The vast majority of cashouts happened through TFL-denoted accounts, not shadow wallets, so this amount is likely a drop in the bucket,” FatMan added.

    In an interview with the Wall Street Journal in late June, Do Kwon stated that he lost almost all of his money in the Terra catastrophe. In his first-ever interview following the Terra collapse, Kwon revealed that he bet large and lost on the Terra project.

    His wallet balance, as well as FatMan’s latest allegations, suggest that Kwon may have more to his name than he is letting on. Furthermore, his recent financial necessity has reinforced speculation that he is on the run.

    As previously reported, South Korean authorities refuted Kwon’s accusations of collaboration. The Terra chief, who the Singapore police confirmed was no longer in the country, is currently on the run from the law, according to the authorities. These words come after Kwon stated that he is eager to cooperate with the appropriate authorities.

    South Korean authorities have been looking for Do Kwon since the arrest order was issued on September 14. Prosecutors have requested a red notice alert from Interpol for Kwon as part of their efforts to apprehend him.

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