September 27, 2022


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

Kwon, the brash crypto CEO, is said to be moving his money around secretly, which critics say is practically to fund a “life on the run.”

The address 0xda44200196cfb3416bf011eed608f354804337ba, which allegedly belongs to the CEO of TFL, sent a whopping $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 an Interpol logo at the organization’s Global Innovation Complex, a research and development facility in Singapore on September 30, 2014.
Edgar Su/Reuters

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 balance.

FatManTerra, an outspoken critic of Kwon, commented on this in a series of tweets. “To be clear, this is only one wallet and a personal wallet at that. The vast majority of withdrawals occurred through TFL accounts, not shadow wallets, so this amount is likely a drop in the bucket,” one of the tweets said, noting that the crypto CEO is not broke as he has led people to believe.

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

In an interview with The Wall Street Journal in June, Kwon said he lost almost all of his money in Terra’s implosion. He also mentioned the big bet and loss on the Terra online project before that interview.

TFL’s CEO has been muttering about a lot of things lately. Among them is the claim that he is “not on the run” and that his team is cooperating with the South Korean authorities. However, it appears that Kwon is no longer in Singapore. Following South Korea’s request to confiscate his passport and put his name on Interpol’s red notice list, he went silent on Twitter.

Currently, Kwon is nowhere to be found.

International Business Times reached out to a TFL representative for comment when we published the article about South Korea’s Red Notice request to Interpol, but we have yet to hear back. We’ll update this story as soon as we hear from Kwon’s camp.





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