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Did terraform Labs co-founder do Kwon convert illicit funds into bitcoin?

According to South Korean prosecutors, Terraform Labs co-founder Do Kwon converted most of the illicit funds associated with him and his associates into Bitcoin. CoinTelegraph reports: South Korean prosecutors have identified 414.5 billion won ($314.2 million) in illicit assets associated with Terraform Labs co-founder Do Kwon and his associates.

Did a former CEO convert illicit funds into bitcoin?

This is mainly because the now-arrested former CEO reportedly converted most of the illicit funds into Bitcoin ( BTC) using overseas crypto exchanges instead of investing in physical assets, per a report published by local media outlet KBS.

Is this the end of the lunatic experiment with Bitcoin in El Salvador?

“This is the end of the lunatic experiment with Bitcoin in El Salvador! Bukele should be indicted for bankrupting his country, and spend the rest of his life in a dungeon full of shitcoins rather than blaming it all on SBF. Maybe the two of them can share a crappy jail cell!” Roubini tweeted.

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