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LUNA Investor Arrested for Knocking on Do Kwon’s Door After Losing $2.4 Million in Terra Crash


LUNA Investor Arrested for Knocking on Do Kwon's Door After Losing $2.4 Million in Terra Crash

A crypto financier has actually been apprehended after knocking on Do Kwon’s door following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He lost about $2.4 million and is now under examination by the South Korean cops. “I seemed like I was going to pass away,” he stated about losing his financial investments.

Investor Under Investigation for Going to Do Kwon’s Home

The collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST) has actually eliminated a great deal of financiers. One financier in specific looked for direct responses from Kwon Do-hyung (aka Do Kwon), CEO of Terraform Labs who lags the 2 cryptocurrencies.

The financier, called “Chancers,” is a Korean social networks character who performs streams on cryptocurrency-related subjects. He lost around 3 billion won ($ 2.4 million) in the LUNA and UST collapse. He informed BBC News:

I seemed like I was going to pass away. I lost a great deal of cash in a brief amount of time. Around $2.4 m of my cryptocurrency was erased.

He described that he was upset with the absence of interaction from Do Kwon after LUNA and UST entered into freefall. He then browsed online and discovered Kwon’s house address in Seoul.

” I wished to ask him about his prepare for LUNA,” Chancers stated. “I suffered a big loss and wished to speak to him straight.”

The disappointed financier took a trip throughout his house city and knocked on Kwon’s door on May12 He streamed the occasion on his online channel; about 100 individuals were seeing at the time.

However, after sounding the doorbell of Kwon’s condo, his better half responded to the door and stated her other half was not house. She likewise called the authorities however Chancers currently left the structure when they showed up.

The financier discovered the next day that the authorities were searching for him. He then surrendered himself at Seoul’s Seongdong Police Station on the early morning of May 13.

” I surrendered myself to the police headquarters two times,” Chancers worried, firmly insisting: “I didn’t trespass on Do Kwon’s home, however according to Korean law, it’s prohibited to simply go there and attempt to talk. I didn’t understand.”

Chancers informed the news outlet that he anticipates to deal with a fine and a rap sheet that might make his life tough. He suggested:

It’s so tough. I lost a great deal of cash and now I’m being examined by the authorities. I initially worked as a civil servant in Korea. If I am founded guilty of this case, I might not be able to return to the civil service once again.

” In Korean culture, the issue itself is trivial however rather the reality that it triggered a scandal,” he discussed. “I even needed to say sorry openly as a sinner. I had no concept this would be so huge. It’s extremely unfortunate.”

Do Kwon declares that he has actually remained in Singapore given that December in 2015. He liquified Terraform Labs Korea and shut down the business’s Korean workplaces simply days prior to LUNA and UST collapsed.

South Korean authorities have actually released an emergency situation examination into the implosion of the 2 coins. Today, the Korean cops asked crypto exchanges to freeze the possessions of the Luna Foundation Guard.

Do you believe it was incorrect for the financier to knock on Do Kwon’s door after he lost millions in the LUNA and UST crash? Let us understand in the remarks area listed below.

Kevin Helms

A trainee of Austrian Economics, Kevin discovered Bitcoin in 2011 and has actually been an evangelist since. His interests depend on Bitcoin security, open-source systems, network results and the crossway in between economics and cryptography.

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