Do Kwon ‘moves $250,000 USDC’ to mysterious account: on-chain data

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

Kwon, the brazen crypto executive, is reportedly moving his money in secret, which critics say is handy for funding a “life on the run.”

Address 0xda44200196cfb3416bf011eed608f354804337ba, which is said to belong to TFL CEO, sent a whopping $250,000 in USDC to another wallet on Tuesday, according to data from block explorer and analytics platform Etherscan.

The transaction was spotted by Hansung University assistant professor and blockchain technology advocate Jaewoo Choo. After the transfer, said wallet had more than $30 million in ETH and USDC balances.

FatManTerra, an outspoken critic of Kwon, commented on this in a series of tweets. “To be clear, this is just a wallet and a personal wallet. The vast majority of withdrawals came from TFL-designated accounts, not shadow wallets, so this amount is likely a drop in the ocean,” read one of the tweets, while highlighting that the crypto executive is not penniless , as he had led people to believe.

“Life on the run must be exhausting. Are his main accounts being monitored,” the critic said in another tweet.

In a June interview with the Wall Street Journal, Kwon said he lost almost all his money in the Terra implosion. He also referenced a big bet and loss at the Terra Project online prior to this interview.

The TFL executive has been mumbling about a lot of things lately. Among them are claims that he is “not on the run” and that his team is cooperating with South Korean authorities. However, it appears that Kwon is no longer in Singapore. He has gone radio on Twitter following South Korea’s request to have his passport revoked and his name added to Interpol’s Red Notice List.

Currently, Kwon is nowhere to be found.

International business hours had reached out to TFL’s representative for comments when we published the article on South Korea’s Red Notice request to Interpol, but have yet to receive a response. We’ll update this story as soon as we hear from Kwon’s camp.

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Fry Electronics Team

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