Fraudster Do Kwon Withdrew Huge Amounts of Crypto After Arrest

Crypto fraudster Do Kwon withdrew a huge amount of cyber money from his account after being arrested in Montenegro, prosecutors here believe."The US$29 million worth of digital tokens were likely moved by Kwon personally or at his direction," Bloomberg reported on Thursday citing Dan Sung-han of the Seoul Southern District Prosecutors' Office. The money was "transferred from a crypto wallet belonging to Kwon’s Luna Foundation Guard (LFG)," Dan added.The 32-year-old cryptocurrency fraudster behind the spectacular collapse of the TerraUSD and Luna cyber coins set up the non-profit LFG in Singapore to support the value of the TerraUSD coin.He was arrested at Podgorica Airport on March 23 while trying to board a flight to Dubai with a forged passport.Dan sai prosecutors here are investigating where the money went and that Kwon should be extradited to Korea first rather than the U.S."This is the largest financial fraud or financial securities fraud case that has ever happened in South Korea. We're expecting the maximum sentence to be handed down, which up until now was probably 40 years in prison, but we are expecting it to be more than that," he added.