Do Kwon’s Bitcoin Wallets See Massive Transfer Amid Ongoing Legal Battle

Over two years have elapsed since the dramatic collapse of Terra-UST, which significantly impacted the Bitcoin and broader cryptocurrency markets.

Since then, Terraform Labs’ founder Do Kwon has been entangled in legal and extradition issues. Currently, it’s uncertain whether Kwon will be sent to South Korea or the United States, as the extradition process continues.

Recently, reports have emerged indicating a significant transaction involving Kwon’s cryptocurrency holdings.

According to recent blockchain data, a total of 1,075 BTC, valued at approximately $63.9 million, has been moved from Kwon’s wallet to an unidentified account. This marks the third occasion on which funds have been transferred from this wallet.

Digital Asset has been monitoring Kwon’s transactions since November 2022 and suggests that these wallet activities likely involve Kwon himself. The latest transaction occurred four months ago, highlighting ongoing movements in the complex case surrounding Kwon and his assets.