Terraform Labs co-founder Do Kwon transferred more than 10,000 Bitcoin to himself after the firm's bankruptcy, according to the SEC.
Kwon is being prosecuted by South Korean law authorities on several charges.
According to a recent filing by the SEC, Kwon transferred the Bitcoin that originally belonged to the Terraform and Luna Foundation to an un-hosted wallet.
- The first transaction was completed on May 2022, while other transactions have consistently been sent since then.
- The crypto account is consistently sending the Bitcoin to a bank in Switzerland, which is then converting it to cash.
- So far, over $100M has been sent to the account.
