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

Key Takeaways:

  • The suspect claimed to have lost $2.3 million as a result of TerraUSD collapse.
  • Majority of crypto community has condemned the trespasser's action.
Terra investor invades Do Kwon’s house after LUNA's
Terra investor invades Do Kwon’s house

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.

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!”

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.

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.

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

Subscribe Today
for our Weekly Newsletter

Free Weekly Crypto News without the spam.

Related Articles

Our Partners

SwapCoin.com RapidCoin.com ChangeNOW.com Paybis.com