Luna Foundation Guard (LFG) has denied allegations of transferring Bitcoin to numerous exchanges and refused to produce new wallets following the collapse of the Earth.
Specifically, the incident occurred on September 28, the Korean authorities ordered two cryptocurrency exchanges OKX and KuCoin to freeze about three,313 Bitcoin (BTC), really worth about 67 million bucks, associated to the CEO of Terra and Terraform Labs founder Do Kwon.
3313BTC in the LFG Binance wallet was transferred to Kucoin from September 15-18, and 1959BTC was transferred to OKX. At the request of the South Korean government, Kucoin froze one,354 BTC. OKX ignores the lock request. coindeskcorea reported. https://t.co/kJXXYyjf4c
– Wu Blockchain (@WuBlockchain) September 27, 2022
Blockchain information analytics platform CryptoQuant explained a new portfolio of Luna Foundation Guard (LFG) – a non-revenue organization founded in Singapore to market Terra growth) was designed “suddenly” on the Binance exchange on September 15.
Three days later on, three,313 BTC was transferred to KuCoin and OKX. In the previous, the Luna Foundation Guard has constantly invested billions of bucks getting Bitcoin to raise its UST stablecoin reserves. However, when items began to collapse, regardless of burning $ three billion really worth of Bitcoin in three days, LFG nevertheless failed to safe the peg for the FSO.
The Bitcoins have been transferred to the aforementioned exchanges wallets shortly following the issuance of the arrest warrant for Do Kwon in South Korea on September 14. As a consequence, South Korean authorities accused Do Kwon of violating the country’s securities laws, creating a industry downturn and triggering a wave of meltdowns for other traders in the field.
However, extremely quickly, LFG’s Twitter account debunked the over reviews and denied that the organization’s portfolio was designed in May 2022.
The treasure of the LFG $ BTC wallet is:
bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q
LFG has not designed new portfolios or moved $ BTC or other tokens held by LFG due to the fact May 2022.@CoinDesk @iamsandali @cryptoquant_com https://t.co/VFN8A4mJRo
– LFG | Moon Foundation Guard (@LFG_org) September 27, 2022
“LFG has not designed any new wallets, just a wallet right here. We have not transferred BTC or any other tokens held by LFG due to the fact May 2022 “.
However, this information comes in the context of Do Kwon continuing to “challenge” the Korean government and Interpol’s red arrest warrant when he just explained he is not also stressed out about this incident however.
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