Do Kwon, Terraform Labs Withdraw Millions A Year After Terra-LUNA Crisis
CoinGape Media earlier reported that Terraform Labs, co-founded by Do Kwon and Daniel Shin, transferred 1.8 million Convex Finance (CVX) tokens worth nearly $8.7 million. advertisement Terra’s Do Kwon Withdraws 2.15 Million Worth USDT and LUNC Stablecoins worth $400,000 and Terra Classic (LUNC) worth $150,000 were withdrawn from wallets reportedly managed by Terra co-founder Do Kwon, reported KBS News on May 18. The withdrawals came before the Montenegro court accepted 400,000 Euro ($436,000) per person bail for Do Kwon and former CFO Han Chang-joon on May 12. Both will remain under house arrest until the court proceedings are completed on the passport forgery case and followed by the extradition case. The Montenegrin prosecutor’s office has appealed the court’s decision granting Do Kwon ’s bail application citing flight risk as the bail amount is far less as compared to their assets. The withdrawals are taking place as South Korean prose...