Following the events of Terra Blockchain tokens LUNA and UST lost significant value, there are reports that Terraform Labs founder Do Kwon’s residence was visited by an unknown person. Do Kwon’s spouse is seeking to be protected by the Seongdong police station in Seoul after an unknown individual entered the apartment and dialed the doorbell, asking for Kwon.
Unidentified Person Breaks into Do Kwan’s Apartment Building In search of Terra founder’s Whereabouts, Kwon’s wife asks Assistance from Police
A few years ago on May 1, 2022 the Terra blockchain token LUNA was the eighth largest market capitalization among the more than 13,000 cryptocurrency currently in existence. The market cap for LUNA the date was $28.3 billion. Terrausd (UST) was two places lower than LUNA with a $18.5 billion market value. Both market caps for cryptos as of May 1st, 2022 were approximately $46.8 billion. in the present, nearly 91 percent of that value is gone.
As of the date of this article the market cap totals $3.9 billion. The fallout of Terra has caused some pain for UST as well as LUNA investors, and many are very unhappy with the manner in which the issue was handled. A few investors lost their life savings and college savings for children while others were able to get a cut by losing money. Forums and social media are full of horrifying tales about people terribly sad about the Terra situation and are losing money.
After a couple of days since the original UST de-pegging scandal There are reports that indicate that an unknown person walked into Do Kwon’s residence and rang the doorbell to speak with Terra’s Terra founder. According to a local newspaper, Do Kwon’s wife was at home and she contacted for the Seongdong police to assign an emergency security officer. The crypto-journal Forkast also spoke to Seongdong’s Seongdong-gu district police in Seoul and confirmed the report.
The police report reveals that an unidentified individual called the doorbell, and Kwon’s spouse responded. “Is your husband in the apartment?” the unidentified person inquired. The report stated that, while it was true that the Terra blockchain tokens had fallen in price, Kwan’s residence had been “exposed to unspecified investors.” Seongdong police also said that they are looking into the matter in detail in the coming days and “plan to review additional measures.”
Do you have a view of the person who went to Do Kwon’s residence and his wife requesting police protection following the Terra blockchain implosion? Tell us what you think of this topic in the comment section below.
