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News

Singaporean LUNA And UST Investor Has Filed A Police Report Against Terra’s Do Kwon.

May 14, 2022 - Around 2 mins mins to read

A Reddit user claims to have filed a police report against Terra’s Do Kwon and the LUNA project on behalf of 1,000 Singaporeans. According to the police report, the concerned citizen was a victim of “the Luna Cryptocurrency Scam.”

Singaporean LUNA And UST Investor Has Filed A Police Report Against Terra's Do Kwon.
Singaporean LUNA And UST Investor Has Filed A Police Report Against Terra’s Do Kwon.

A user on the prominent social media network Reddit claims to have filed a Police Report against Terra’s Do Kwon with Singaporean authorities. 

The concern citizen who lost money in the ‘Luna Cryptocurrency Scam,’ according to the Reddit user’s report. He also filed a police report to seek justice on behalf of individuals who had lost money.

Over 1,000 Singaporeans, he claimed, have invested in LUNA and UST, with the latter being offered as a stablecoin. The police report is seen in the screenshot below.

Police
Source: u/poncipolice on Reddit.

A Reddit post about a police report against Do Kwon has gotten a lot of attention. The responses of a few community members are:

dealing with crypto is high risk. the police won’t get your money neither will they do anything to Do Kwon

 kyuno

I’m vested in crypto but yeah, this is silly. When times are good the cult like crypto fanbois smugly shit on fiat and brag how good decentralised and unregulated currency is. Now they’re crying for help. Lmao.

sukeguto

The possibility of a police case being filed against Do Kwon comes less than a day after the Terra (LUNA) founder remarked on Twitter that he was ‘heartbroken about the pain [his invention] had brought’ to everyone. Mr. Kwon further indicated that during the depegging issue and ensuing LUNA inflation, he did not sell any of his LUNA or UST.

However, as Timothy Peterson of Cane Island Alternative Investors highlighted in the following Tweet, his admission of guilt could lead to potential lawsuits.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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