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.”
