March 24, 2023

Terraform Labs CEO and co-founder Do Kwon has moved $250,000 worth of USDC to a mysterious account, according to the latest on-chain data.

Arrogant crypto executive Kwon is reportedly secretly moving his funds, which critics say is practical for funding a “life on the run.”

The address 0xda44200196cfb3416bf011eed608f354804337ba allegedly belonged to the CEO of TFL sent up to $250,000 in USDC to another wallet on Tuesday, according to data from block explorer and analytics platform Etherscan.

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A man walks past the Interpol logo at Interpol’s Global Innovation Centre, a research and development facility in Singapore, on September 30, 2014.
Edgar Su/Reuters

The deal was discovered by Jaewoo Choo, an assistant professor at Seoul University and a proponent of blockchain technology. After the transfer, the wallet’s ETH and USDC balance exceeded $30 million.

FatManTerra, an outspoken critic of Kwon, commented in a series of tweets. “To be clear, this is just a wallet and a personal wallet. The vast majority of withdrawals happen through accounts represented by TFL, not shadow wallets, so this amount is likely a drop in the bucket,” one of the tweets said, emphasizing that The cryptocurrency executive isn’t as broke as he’d led people to believe.

“Life on the run must be harsh. Is his main account monitored,” the critic said in another tweet.

In a June interview with The Wall Street Journal, Kwon said he lost almost all of his money in Terra’s implosion. Before that interview, he also mentioned the big bets and losses on the Terra project line.

TFL executives have been mumbling a lot of things lately. These included claims that he was “not at large” and that his team was cooperating with South Korean authorities. However, Kwon appears to be no longer in Singapore. He remained radio silent on Twitter after South Korea demanded that his passport be revoked and his name placed on Interpol’s Red Notice list.

Currently, Kwon is nowhere to be found.

international business times When we reached out to INTERPOL about South Korea’s red notice issued to INTERPOL, we reached out to TFL representatives for comment, but have yet to hear back. We’ll update this story as soon as we hear from Kwon’s camp.

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