42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles

  • On Monday, 42,530.82827771 BTC was spent from the LFG wallet.
  • It is speculated that the funds were split into two batches – 12,500 BTC and 30,000 BTC.
  • A portion of the funds was reportedly sent to cryptocurrency exchange OKEX.
  • Around the same time, 12,531 BTC was transferred from an unknown wallet to another unknown wallet.
  • The move came less than a day after LFG announced that it was taking steps to protect the peg of UST.
  • Measures included loaning $750 million worth of BTC to over-the-counter trading firms.
  • The value of Terra (LUNA) also declined significantly over the weekend.
  • Project co-founder Do Kwon warned that the selloff was a result of a coordinated attack against the protocol.
  • Kwon also clarified that LFG is “not trying to exit its Bitcoin position.”
  • On Monday, Kwon also tweeted that he would be “Deploying more capital.”
42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles
42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles 2

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