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.”

Keywords in this story

apartment building, do kwon, Implosion, Intruder, Kwon’s Spouse, Police, Police Protection, Seongdong Police, Seoul, South Korea, terra (LUNA), Terra Founder, Terrausd (UST), Unidentified Person, Visit unexpected, unknown person

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.

Jamie Redman

Jamie Redman is the news manager for News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for News about disruptive protocols emerging today.

Image credits: Shutterstock, Pixabay, Wiki Commons

Warning: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source link


Please enter your comment!
Please enter your name here