Key Takeaways:
Do Kwon refuted accusations that bitcoin assets worth millions had been frozen via the social media site Twitter. Authorities seized some of Kwon’s cryptocurrency holdings worth $39.6 million, according to CoinDesk on Wednesday, quoting local Korean media.
On Wednesday, Do Kwon used the social media platform Twitter to deny claims that cryptocurrency assets worth millions had been frozen.
Regarding a CoinDesk report, Kwon tweeted that he had “ no time to trade, no funds have been frozen. I don’t know whose funds they’ve frozen ”.
According to reports, $40 million that Kwon tried to hide on the cryptocurrency exchanges KuCoin and OKX has been frozen by Korean authorities.
The two cryptocurrency exchanges, with whom Kwon asserts he had no financial dealings, reportedly assisted in the confiscation.
I don't get the motivation behind spreading this falsehood – muscle flexing? But to what end? Once again, I don't even use Kucoin and OkEx, have no time to trade, no funds have been frozen. I don't know whose funds they've frozen, but good for them, hope they use it for good