Prosecutors “Kwon Do-hyung stole 38 billion won worth of cryptocurrency after arrest”

Posted Posted onJune 9, 2023 Comments0

Terraform Labs CEO Kwon Do-hyung, a key figure in the “Tera-Luna crash토토사이트,” was found to have siphoned off large sums of money even after his arrest in Montenegro, according to Dan Sung, head of the Seoul Southern District Prosecutors’ Office’s joint investigation into financial and securities crimes.

In an interview with Bloomberg, Dan said the prosecutor’s office has identified and is tracking Kwon as having siphoned off $29 million, or about 37.83 billion won in Korean won, from a cryptocurrency wallet owned by Luna Foundation Guard since his arrest in March.

“We believe that Kwon Do-hyung or someone under his direction took it out and sent it to a place other than Signum Bank to cash it out, and we’re trying to track down where it went,” Dan said.

The U.S. Securities and Exchange Commission previously charged Kwon with fraud in February, alleging that he stole 10,000 bitcoins, worth about $349.7 billion, cashed them out and deposited them at Signum Bank in Switzerland.


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