"Hmmm can't do anything because Kwon's every action must be suspicious."
Analysts questioned whether Do Kwon intended to raise funds for lawyers after discovering that the former Terraform Labs CEO had in recent months transferred millions of Bitcoin (BTC) and other cryptocurrencies.
Last month, Kwon's associates reportedly sold BTC linked to the Luna Foundation shortly after transferring 5,292 digital assets to another wallet.
In addition to transferring 239 BTC out of a total of 5,292 BTC connected to Luna Foundation Guard, Kwon also performed other transfers and remained active in the crypto market despite his imprisonment in Montenegro.
Not only that, he also transferred 1.8 million Convex Finance (CVX) worth $8.7 million and the wallet address "bc1qs6" currently holds 5,036 BTC worth $146 million after completing a number of transfers to "bc1q42".
Later, Kwon and Terraform Labs who were secretly attacked by the Securities and Exchange Commission (SEC) transferred 10,000 BTC to the next cold wallet on the crypto bank Sygnum and proceeded to withdraw millions of dollars.
The ongoing transfer came as Kwon and Terraform Labs' lawyers filed a motion to dismiss the SEC's claim through Judge Analisa Torres' decision in Ripple's Summary Judgment, but unfortunately that plan fell through.
So far, the United States (US) and South Korea are trying to extradite Kwon on charges of fraud, but the process is expected to be quite difficult as the two countries do not have an extradition agreement with Montenegro.
However, Do Kwon will face a prison sentence of up to 40 years in South Korea after his release from a Montenegrin prison as the high court is likely to try to extradite him to his home country.
