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Do Kwon Flees Singapore, Denies Being on the Run as Terra (LUNA) Sinks

Cryptocurrency Sep 19, 2022 02:30PM ET
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© Reuters Do Kwon Flees Singapore, Denies Being on the Run as Terra (LUNA) Sinks
 
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Do Kwon, the infamous founder of Terra (LUNA), is wanted by South Korean authorities, but that’s not the end of his problems. Apparently, the prosecutors have had enough of playing cat and mouse and have filed an official request to issue an Interpol Red Notice.

“Prosecutors on Monday have made a request to Interpol for their assistance to locate Kwon, whose whereabouts remain unknown, and to have him handed over to Korea,” explained the Prosecutor’s Office Spokesperson. Ultimately, this means Do Kwon would be in danger of arrest anywhere in the world.

Do Kwon Appears Out of Nowhere on Twitter (NYSE:TWTR)

The infamous Terra (LUNA) leader shook the crypto world in May. The algorithmic stablecoin Terra (UST) crumbled, leaving investors without a piece of the supposedly decentralized pie. Then, Do Kwon hard-forked the network and rebranded the old LUNA as Terra Luna Classic (LUNC).

For a moment, the rebranded version made waves on Twitter, leaving crypto enthusiasts and influencers puzzled. For instance, social influencer David Gokhshtein called the situation “A game of musical chairs” and remarked that only “gamblers” could engage in trading Luna Terra Classic (LUNC).

The situation occurred around the time Do Kwon released his first interview since the Terra (LUNA) fiasco. On Saturday, after another month of silence, Do Kwon posted a thread on Twitter, claiming that he is “not on the run – or anything similar.” In addition, Terra (LUNA) had apparently held themselves “to an extremely high bar of integrity.”

However, the South Korean authorities are not convinced at all, accusing Do Kwon of escaping Singapore right after the arrest warrant.

Oops!… Kwon Did It Again

The $60 billion crypto massacre in May shredded to pieces well-known and highly-successful crypto funds like Three Arrows Capital (3AC), Voyager Digital, Celsius, and others. Currently, the new version Terra (LUNA) trades at $2.92, plunging by 48.7% in the last 7 days. On the other hand, Terra Luna Classic (LUNC) trades at $0.00032044, falling down by 23.7% in the past week.

On the Flipside

  • Some crypto enthusiasts on Twitter claim that Luna Terra Classic (LUNC) is community-owned.
  • Many crypto influencers deny claims that Do Kwon is no longer on the project.
  • South Korean authorities issued probes on multiple other Terra insiders.

Why You Should Care

The downfall of Terra (LUNA) & Terra (UST) in May turned into a crypto grim reaper, counting over $60 billion swallowed up.

Find out more about the infamous Do Kwon & Terra (LUNA) in these pieces:

Do Kwon’s First Interview Since Terra (LUNA) Downfall Called Out As Biased

Terra Luna Classic (LUNC) Tops Shiba Inu (SHIB), South Korea Issues Arrest Warrant for Do Kwon

Continue reading on DailyCoin

Do Kwon Flees Singapore, Denies Being on the Run as Terra (LUNA) Sinks
 

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