South Korea seeks to freeze $62 million of bitcoin linked to crypto founder Do Kwon as manhunt continues

South Korean authorities sought Kwon's apprehension this period and claimed helium is connected the run. The prosecutors said that Interpol, the planetary policing organization, has issued a "Red Notice" for Kwon. Such notices are issued for fugitives wanted either for prosecution oregon to service a sentence.

Kwon, however, insists helium is not connected the tally and said Tuesday connected Twitter that helium is "making zero effort to hide." The crypto laminitis claims helium goes connected walks and is successful his surviving country coding.

The Seoul Southern District prosecutors bureau declined to remark connected however they identified that the bitcoin is linked to Kwon.

But probe from analytics level CryptoQuant suggests that the Luna Foundation Guard (LFG) acceptable up a integer wallet connected Sept. 15 and sent 3,310 bitcoin to KuCoin and OKX. The Luna Foundation Guard is simply a non-profit aimed astatine promoting the blockchain Terra, created by Kwon's institution Terraform Labs.

The LFG responded connected Tuesday saying it had not created immoderate caller wallets, oregon moved bitcoin oregon different integer currencies astir since May 2022. It besides posted its wallet code connected Twitter.

But CryptoQuant replied: "That's the nationalist one," suggesting the Luna Foundation Guard has different wallet code not explicitly linked to the nonprofit.

Kwon besides refuted the claims of bitcoin being moved.

He said connected Twitter that determination was nary effort to "cashout" and that he's not utilized KuCoin oregon OKX successful "at slightest the past year." He added that nary funds of Terraform Labs, LFG oregon different entites person been frozen.

KuCoin told CNBC connected Wednesday that it is "willing to cooperate with immoderate planetary instrumentality enforcement agencies erstwhile it comes to cases of investigations pertaining to the root and freezing of suspected assets."

It added that successful narration to Kwon and the petition by South Korean prosecutors to frost funds linked to the crypto founder, "we would similar you to archetypal code the contented to immoderate related authorities and clarify their stance regarding the matter."

CNBC told KuCoin it had already spoken to authorities. A KuCoin spokesperson said the institution "can't disclose immoderate details successful bid not to interfere with the case."

OKX has not yet responded to a petition for comment.