Approximately $2.15 million worth of virtual assets were withdrawn from wallets belonging to Do Kown over the past two days. This raises concerns that an accomplice may have assisted in withdrawing and cashing out the virtual assets on Kwon's behalf
This comes as the Montenegrin prosecutor's office appeals a court decision to grant Kwon bail.
The withdrawals include $400,000 worth of stablecoins from an Ethereum wallet, thought to be owned by Kwon, as well as $150,000 worth of Luna coins from a Terra wallet. Another withdrawal of $1.6 million in stablecoins from an Ethereum wallet managed by Kwon was also recorded.
Kwon, who is currently detained at a Montenegrin detention facility, applied for bail on May 11, alongside an associate named Han Mo, offering to pay $400,000 and requesting to stand trial without detention. The local court accepted the bail application within a day. However, the local prosecutor's office appealed the decision on the grounds that the bail amount was insufficient compared to the wealth of the defendants.