Do Kwon Linked Wallets Made Large Transfers for 2 Altcoins!

Tens of millions of dollars of altcoin outflows were seen from cryptocurrency wallets linked to Do Kwon, who reached an agreement in principle with the SEC.

Wallets known to be linked to the LUNA Foundation and Do Kwon witnessed an altcoin outflow of nearly $100 million on May 31.

According to data provided by on-chain analysis platform Arkham Intelligence, the transferred altcoins included 1.9 million Avalanche (AVAX) worth $71.2 million and 39,499 BNB (BNB) worth $23.5 million.

The assets in question were sent to an unknown address.

In a court decision shared late on May 30, it was announced that the SEC and the Do Kwon front had reached an agreement in principle. The large altcoin transfers that followed this decision did not go unnoticed.