Do Kwon: There is No Cash Out and No Funds of Other Entities are Frozen

Terra founder Do Kwon responded to rumors on Twitter today about cashing out overseas. He said: "This is the amount of misinformation that gets spread. There is no cashout as alleged, i havent used KuCoin or OKX in at least the last year, and no funds of TFL, LFG or any other entities have been frozen."

Previously, Blockchain data analytics platform CryptoQuant says a digital wallet for the Luna Foundation Guard was "suddenly" created on Binance on Sept. 15. In the three days that followed, 3,313 $BTC were transferred to KuCoin and OKX. Authorities in South Korea have requested OKX and KuCoin to freeze some 3,313 $BTC (worth about $67 million), tied to Terraform Labs co-founder Do Kwon, CoinDesk Korea reported on yesterday.

In addition, while KuCoin has frozen about 1,354 $BTC (worth about $27 million) transferred to the platform, OKX is allegedly "ignoring the prosecution's request to freeze assets". A spokesperson said: "OKX can confirm that it has received a request from the Korean authorities, and that it is cooperating with their investigation."