Following the aftermath of the Terra LUNA and UST blockchain tokens losing significant value, reports indicate that the apartment of Terraform Labs founder Do Kwon was visited by an unidentified person. Do Kwon’s wife asked for protection from Seongdong police in Seoul after the stranger broke into the building and rang the doorbell asking for Kwon.
An unidentified person breaks into Do Kwon’s building to find out the whereabouts of Terra’s founder, Kwon’s spouse asks for police help
Not so long ago, on May 1, 2022, the Terra LUNA blockchain token was the eighth largest in market capitalization among over 13,000 existing cryptocurrencies. The market cap of LUNA that day was $28.3 billion and terrausd (UST) was two points below LUNA with a $18.5 billion market valuation. The two market caps combined as of May 1, 2022 were approximately $46.8 billion and today approximately 91% of that value has faded away.
At the time of writing, the combined market capitalization of UST and LUNA equals a value of $3.9 billion. The Terra fallout caused a lot of pain among UST and LUNA investors and many were very upset with the way the situation was handled. Some investors lost their life savings and children’s education funds, and others managed to get away with a haircut in terms of losses. Social networks and forums are full of horror stories of people who are seriously depressed by Terra’s situation and who are losing funds.
Now, days after the initial UST unanchoring incident, reports note that an unidentified person visited Do Kwon’s apartment building and rang the doorbell asking for the founder of Terra. A local report explains that Do Kwon’s wife was at home and asked the Seongdong police to assign an emergency protection officer. The crypto publication Forkast also spoke with police from the Seongdong-gu district of Seoul and confirmed the story.
The police report notes that the unidentified person rang the doorbell and Kwon’s spouse answered. “Is your husband in the apartment?” said the stranger. The report says that while Terra blockchain tokens lost value, Do Kwon’s house was “exposed to unspecified investors.” Seongdong police also noted that they are investigating the situation further and “plan to consider what additional measures.”
What do you think of the unidentified person going to the home of Do Kwon and his wife asking for police protection after the Terra blockchain implosion incident? Let us know what you think about this topic in the comments section below.
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