South Korean prosecutors confirmed that Terraform Labs CEO Do Kwon despatched 9 billion received ($7 billion) to Kim & Chang — a prime South Korean regulation agency — proper earlier than the spectacular collapse of the Terra ecosystem.
Kwon’s choice to ship hundreds of thousands to the regulation agency was flagged by prosecutors as a deliberate transfer, which allegedly reaffirmed his consciousness of the approaching collapse and anticipated anticipated authorized issues, as reported by KBS Information.
Whereas attempting to tie in Kwon’s in poor health intent in prepaying the regulation agency, prosecutors imagine that the data will assist in the continued fraud case. As well as, Kim & Chang’s attorneys visited Montenegro to fulfill with Kwon and Terraform’s former chief monetary officer, Han Chang-joon.
Beforehand, Kwon was arrested at Podgorica airport in Montenegro after attempting to fly to Dubai utilizing pretend paperwork. Following his arrest, each United States and South Korean authorities have sought Kwon’s extradition. Nevertheless, the court docket is but to determine.
On April 7, it was revealed that South Korean prosecutors suspected Kwon of changing illicit funds from Terra (LUNA) to Bitcoin (BTC). The prosecutors requested Binance to halt all withdrawal requests linked to Kwon.
In complete, prosecutors recognized 414.5 billion received ($314.2 million) in illicit belongings related to Terraform Labs co-founder Kwon and his associates, out of which about 91.4 billion received ($69 million) is reportedly immediately linked to Kwon.
“We offered Korean LE authorities with the requested help. Since we can’t touch upon ongoing LE investigations, for any additional remark, please attain out to the prosecutors,” mentioned a Binance spokesperson, chatting with Cointelegraph concerning the matter.