Report: Terra Founder Do Kwon’s Spouse Seeks Police Protection After the LUNA and UST Fallout – Bitcoin News

Bitcoin.com

Following the aftermath of the Terra blockchain tokens LUNA and UST losing significant value, reports indicate that the Terraform Labs founder Do Kwon’s apartment was visited by an unidentified person. Do Kwon’s spouse has requested protection from the Seongdong police in Seoul after the unknown person broke into the apartment building and rang the doorbell asking for Kwon.

Unidentified Person Breaks Into Do Kwon’s Apartment Building Seeking Terra Founder’s Whereabouts, Kwon’s Spouse Seeks Help From Police

Not too long ago, on May 1, 2022, the Terra blockchain token LUNA was the eighth-largest market cap among 13,000+ cryptocurrencies in existence. LUNA’s market cap on that day was $28.3 billion and terrausd (UST) was two spots below LUNA with an $18.5 billion market valuation. Both crypto market caps combined on May 1, 2022, were around $46.8 billion in value and today, around 91% of that value has disappeared.

How To Get Free Crypto  

At the time of writing, UST’s and LUNA’s market cap combined equates to $3.9 billion in value. Terra’s fallout has caused a lot of pain among UST and LUNA investors and many have been very upset about how the situation was handled. Some investors lost their life savings and children’s college funds, and others managed to escape with a haircut in terms of losses. Social media and forums are filled with horrifying stories of people who are severely depressed over the Terra situation and losing funds.

Now, after a few days since the initial UST de-pegging incident, reports note that an unidentified person visited Do Kwon’s apartment building and rang the doorbell asking for the Terra founder. One local report explains that Do Kwon’s spouse was home and she asked the Seongdong police to designate an officer for emergency protection. The crypto publication Forkast also spoke with Seoul’s Seongdong-gu district police 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?” the unknown person said. The report said that while the Terra blockchain tokens were down in value, Do Kwon’s home was “exposed to unspecified investors.” Seongdong police also noted that they were investigating the situation further and “plan to review what additional measures.”

Tags 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, Unintended visit, Unknown Person

What do you think about the unidentified person going to Do Kwon’s home and his spouse asking for police protection after the Terra blockchain implosion incident? Let us know what you think about this subject in the comments section below.

Coinbase Banner  
Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Read disclaimer

Go to Source
Author: Jamie Redman


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.