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


According to reports, 42.5K BTC was moved from Luna Foundation Guard wallet when UST pegs crumbled

The (approximately $1.4 Billion worth)BTC) was reportedly moved from a wallet tied to Luna Foundation Guard (LFG) on Monday, raising questions about its ultimate destination on a day that has seen Bitcoin’s price tumble more than 11%.

Blockchair is a Blockchain Explorer. revealedMonday’s transaction from LFG wallet saw 42,530.82827771 BTC being spent, but its destination is unknown. It has been speculated that the funds were split into two batches — roughly 12,500 BTC and 30,000 BTC, respectively — with a portion reportedly sent to cryptocurrency exchange OKEX.

UST’s peg has been lost on 2 occasions, one of which was during March 2020 COVI-19 liquidity. Source: CoinMarketCap.