The Man Who Broke Into Do Kwon’s House Was a Terra Investor Who Lost $2 million

The Man Who Broke Into Do Kwon’s House Was a Terra Investor Who Lost $2 million

Authorities in Seoul, Korea, questioned a crypto investor accused of breaking into the home of Do Kwon, co-founder and CEO of Terraform Labs, on Monday, May 16.

According to a report by Korean news agency Yonhap, the suspect, whose identity has been kept secret, broke into the apartment complex in the eastern part of Seoul a week ago and then proceeded to ring Kwon’s doorbell while his wife was inside.

“I have lost about 2 to 3 billion won (US$2.3 million),” the suspect told reporters after undergoing an investigation at Seongdong Police Station

The suspect, who runs an internet broadcasting channel, alleges many individuals have committed suicide as a result of Terra stablecoins’ collapse.

The investor also demanded that Kwon apologize to the over 200,000 investors who had lost money. Kwon’s wife requested police protection after his visit, according to officials.

Terraform Labs is working on ways to keep its Terra blockchain and ecosystem running despite the collapse of its coin, according to Do Kwon’s blog post.

Kwon is a crucial person in the UST stablecoin and LUNA token’s dramatic collapse.

After achieving a new all-time high of $119 a month ago, the price of LUNA is now almost zero $0.00016, down almost 99% from its ATH.

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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