Arrest Warrant For Terra Founder Do Kwon Just Issued

South Korea Police

✍️ 16 September, 2022 - 10:30 👤 Editor: Jakub Motyka

South Korea has just issued an arrest and detention order against Do Kwon and 5 other members of the bankrupt project of Terraform Labs, accusing them of violating the laws of the market and requesting their immediate arrest to pass into the hands of the judges, as reported by Bloomberg.

The arrest warrant for Do Kwon comes several months after the entire Terra project, along with its stablecoin UST, collapsed, pushing its users to suffer great losses after the almost absolute collapse of the value of their cryptocurrencies.

Arrest Warrant Against Do Kwon And 5 Other Members Of The Bankrupt Terraform Labs Project

Do Kwon, one of the visible faces of Terraform Labs, had assured in recent weeks that he was cooperating with the Korean authorities to clarify what happened with this project. Despite this, South Korea has just issued an arrest order against him and five other people involved in the bankruptcy of the company Terraform Labs.

Do Kwon had publicly shown his support for the new Terra Luna Classic (LUNC) project, which seeks to continue with the Terra community what began under the previous LUNA cryptocurrency, only this time under the name of Terra 2.0.

Apart from this, Do Kwon's passport is being revoked in a measure aimed to arrest as soon as possible all the people involved in the case.

Terra Luna Classic (LUNC) Price Falls On News Of Do Kwon Arrest Order

The price of the Terra Luna Classic (LUNC) cryptocurrency has begun to fall today, September 14, 2022, from the moment it was known the arrest warrant for Do Kwon and 5 other members of the former Terraform Labs project.

LUNC Price Today September 14 2022
In the graph of the price of Terra Luna Classic (LUNC) you can see the fall that began today, September 14, with the news of the Do Kwon stop order.

At the time of writing, the price of LUNC crypto is $0.0003205, with a market capitalization of $1,971,203,369.

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