LUNA Founder Do Kwon Reacts To $40M Frozen, Says: "Good"

Following an arrest warrant issued by the Seoul Southern District Prosecutor’s Joint Financial Securities Crime Investigation Team, authorities in that country moved on to freeze the assets of Terra (LUNA) founder Do Kwon. So far, crypto exchanges have frozen around $100 million from these platforms.

The investigation and manhunt for the LUNA Founder are being carried out by elements in South Korea with cooperation from the International Criminal Police Organization (Interpol). A week ago, the international criminal enforcement agency issued a “Red Notice”, an arrest warrant enforceable by any Interpol member, against Do Kwon.

The confiscated funds have been linked to the LUNA founder via the Luna Foundation Guard (LFG), an entity created to protect the price of the failed stablecoin TerraUSD (UST). The funds were primarily in Bitcoin, amounting to over 8,000 BTC, and hold by a wallet on crypto exchanges OKX and KuCoin.