Terra investor invades Do Kwon’s house after LUNA’s 99% price crash

LAGOS (CoinChapter.com) — Terra’s recent debacle has taken another unfortunate twist as an alleged LUNA investor invaded the home of Terraform Labs co-founder and CEO, Do Kwon.

In detail, the intruder reportedly entered the Terra CEO apartment complex in eastern Seoul, South Korea. The aggrieved person rang Do Kwon’s doorbell and fled the scene upon realizing that he wasn’t home.

According to a complaint filed, Kwon’s wife met face to face with the intruder before the person ran away from the scene. Kwon’s wife has since reportedly been placed in protective custody or under police guard at her request.

At press time, South Korean police are still hunting for the intruder and have refused to disclose the person’s identity. However, the person reportedly sought answers from Terraform Labs CEO after TerraUSD and LUNA tokens collapsed.

Interestingly, a livestreamer with the handle Chancers has since claimed to be the intruder in question. Additionally, the suspect claimed to have lost $2.3 million due to the TerraUSD and LUNA collapse.

The intruder further claimed that several people had taken their lives due to the stablecoins collapse. He urged Do Kwon to take responsibility for the meltdown and apologize to the investors who had lost their savings.

Mixed Reactions Trail Intruder Break-In

Meanwhile, mixed reactions have erupted from the crypto community from the break-in at Terraform Labs’ Do Kwon’s apartment. DooWanNam, COO at StableNode, condemned the trespasser’s action via his official Twitter handle.

I want to emphasize that violence is never an answer and there have been several incidents in Korea before. But such always have been caught eventually even if they flew abroad.

— Doo | StableNode @Permisionless (@DooWanNam) May 13, 2022

A Twitter user, @safemoondusts, pointed out that Do Kwon did not cause the crash and should not be targeted. Another user called for calm and urged the Terra community to look to the future. @DeFi_dara said:

“Do Kwon apologizes for hurting Terra’s users and investors! It hurts, but we have to keep our hearts up and never give up! There are so many opportunities ahead, and the future is bright!”

Do Kwon should make it his dying goal to save Luna. If he’s even eating or taking a shit he’s fucking up. He needs to eat sleep and breathe saving that project if he doesn’t want to be hated in the after life. That’s just what I would do. I’d spend every dollar and second.

— Hi-Rez (@HiRezTheRapper) May 16, 2022

Yup, as expected. People will be out for his blood.

So much money, relationships and lives have been destroyed. Thousands and thousands.

He didn't think that it would just die down after people "forget" about it, eh?

If he's seriously trying to save the project, speak up.

— Just A Polar Bear (@coffeeonthebus) May 13, 2022

Furthermore, a Reddit user has claimed that a police report was filed against Do Kwon in Singapore. The report was filed on behalf of LUNA and UST investors, asking for Kwon to be held responsible for both token collapses.

I Am Heartbroken About Pain My Invention Has Brought —Do Kwon

Meanwhile, in a Twitter thread, Do Kwon has expressed his sadness with the unprecedented crash of the platform tokens. The Terra founders noted that he was doing everything within his power to soften the impact of the loss. He said:

“I’ve spent the last few days on the phone calling Terra community members […] that have been devastated by UST depegging. I am heartbroken about the pain my invention has brought on all of you.”

He further reiterated his belief that a decentralized economy was possible and would be fueled by a decentralized currency. So do Kwon, however, positioned that TerraUSD in its current state wasn’t going to be that currency.

Additionally, Kwon revealed that he did not profit from the recent crash but suffered a major loss.

3/ Neither I nor any institutions that I am affiliated with profited in any way from this incident. I sold no luna nor ust during the crisis.

— Do Kwon 🌕 (@stablekwon) May 13, 2022

Recall that LUNA, worth about $120 at the start of April, collapsed unbelievably last week. At the time of publication, LUNA was down more than 99% from its mark, trading at $0.00016841.

The token’s market cap also fell from $28 billion at the start of May to around $1 billion at press time.