There has been an important development regarding Do Kwon, the founder of Terra (LUNA), one of the most important reasons for the great collapse in the crypto money markets. South Korea has issued an arrest warrant for the person who turned the markets upside down.
Founder of Terra (LUNA), which has shaken the cryptocurrency markets in the past months Do Kwon There has been an important development. In South Korea, the court ruled for six people, including Do Kwon. issued an arrest warrant. In the statement made by the prosecutor’s office, it was stated that all of the persons for whom an arrest warrant was issued were in Singapore.
directly or indirectly, an undetectable number of crypto money investors. damaging Do Kwon did not comment on the matter. However, South Korean officials said that the reason for the arrest warrant was in the country. capital market law They say it’s a violation. It is a matter of curiosity what Do Kwon, who has made remarkable debuts from time to time, will do in the face of this decision…
LUNA and LUNC crashed after the verdict was heard!
In the chart above, you see the price chart of LUNA. The arrest warrant decision from South Korea is based on the price of this cryptocurrency. around 30 percent reflected as a depreciation. LUNA, which was above $ 4.30 before the event, after the news from South Korea 3 dollars decreased to levels.
The original cryptocurrency, named Terra Classic (LUNC), which changed its name due to the events that took place a few months ago, also took its part in the decision. LUNC, which was trading at $0.00033 before the decision was served, is currently 0.0003 trading levels. Just a few months ago this cryptocurrency over $110 indicate that it was processed. Imagine the state of the investor…
So what happened that things got so messy?
Terra (LUNA) was one of the emerging cryptocurrencies in 2022. The team, which did important work for the ecosystem, also had a stable coin, whose price was always indexed to 1 dollar. TOP This stablecoin, named as the coin, had an algorithmic structure and was trading LUNA to stay at the $1 level. But in May 2022, this situation suddenly changed. Unable to stay at the level it should be, UST sold billions of dollars of LUNA. The LUNA, which is at the level of 100 dollars, suddenly fell due to these sales. up to $0.0001 declined. Do Kwon, who made statements on the subject, seemed to be kidding.I bet, I lost!“He said. The latest news from South Korea is that Do Kwon just getting started it reveals…
You can reach the content where we explained the Terra (LUNA) event in all details here.
Source :
https://www.bloomberg.com/news/articles/2022-09-14/south-korea-seeks-the-arrest-of-terraform-labs-founder-do-kwon