CEO of Terraform Labs PTE Ltd. Do Kwon‘s wife sought police protection after an unidentified person claimed to have entered their apartment in South Korea.
Attack Allegations Are On The Agenda As LUNA Price Drops
Police units in Seoul’s Seongdong-gu district announced that after the incident on Thursday night, Kwon’s wife requested immediate protection. Police teams took the allegations seriously and quickly provided police protection.
Kwon’s wife claimed that an unidentified person broke into her apartment complex in Seongsu-dong after she waited for someone to open the door with a password. The person then rang the bell and knocked on Kwon’s door. Kwon’s wife claimed that after opening the door, the person allegedly asked Kwon if he was free and left when Kwon replied in the negative.
In the incident, Kwon’s wife told the police, she claimed that the address of their private residence was openly shared after the latest situation in crypto assets. According to its LinkedIn page, Terraform Labs’ Asia Pacific headquarters is in Singapore.
Police told Forkast on Friday that they were trying to trace the person for possible theft and trespassing. According to the police, this tracking is based on the alleged allegations, but it was not possible to immediately determine whether the person was investing in Kwon’s cryptocurrency ventures.
Terraform Labs TerraUSD (UST) The asset lost the US dollar peg earlier this week and fell to $0.04. The algorithm-based stablecoin has lost around $16.6 billion in market capitalization.
But the LUNA supply has increased 20 times in four days. Supply has since jumped from 775.69 billion to 6.91 trillion on May 10, according to data from Terrascope, a tool created to monitor the Terra Money ecosystem.
Despite many desperate efforts, the UST has yet to recover the exchange rate against the dollar. Meanwhile, some people took to social media platforms to disparage Kwon, claiming they lost their savings. Kwon himself was silent. He paused his prolific tweet with his last tweet on Wednesday promising recovery for LUNA owners.