Kwon Continues to Cash Out BTCs

The US Securities and Exchange Commission (SEC) claimed that Terraform Labs Founder Do Kwon secretly cashed more than 10,000 BTC through a Swiss Bank. These allegations were included in the SEC’s lawsuit filed against Do Kwon and his company, Terraform Labs. According to the statement, more than 10,000 BTC was transferred via cold wallet. In the meantime, it was emphasized that Do Kwon continues to cash out the BTCs he has kept in his cold wallet since May last year. Thus, Kwon continues to live as a fugitive by withdrawing more than $ 100 million from the Swiss bank, where he has cashed his Bitcoins since last year.

On the other hand, Do Kwon was estimated to be in Serbia last. Thereupon, South Korean officials went to Serbia to get more information recently, but no results have been obtained yet. While the South Korean security forces continued to work with Interpol to find Do Kwon, he said that it would not be correct to give clear information at the last point. The fact that the SEC completed its investigations and filed lawsuits on behalf of the company and Kwon long after Terra’s collapse indicates that the United States is beginning to get involved. It remains to be seen whether this development will contribute to the finding of the fugitive Do Kwon.