Reports indicate that Do Kwon, founder of Terraform Labs, was visited his apartment by an unknown person following the Terra blockchain tokens LUNA/UST’s significant loss in value. Do Kwon’s spouse requested protection from Seoul’s Seongdong Police after an unknown person entered the apartment and called the doorbell, asking for Kwon.
Unidentified Person Breaks into Do Kwon’s Apartment Building. Terra founder’s whereabouts are sought by Kwon’s spouse.
On May 1, 2022 the Terra blockchain token LUNA had the eighth largest market cap of all the 13,000+ cryptocurrencies. LUNA’s market capital was $28.3 Billion, while terrausd was two spots lower than LUNA at $18.5 Billion. On May 1, 2022, both crypto market caps totaled $46.8 trillion in value. Today, 91% of that value has vanished.
At the time this article was written, UST’s combined market cap with LUNA amounts to $3.9 billion. Terra’s devastation has caused a lot pain for UST and LUNA investors, and many are very unhappy about the way it was handled. Some investors lost their life savings, while others were able to recover with minimal losses. Forums and social media are full of horrific stories from people who are deeply depressed about the Terra situation, losing their funds, and are filled with heartbreaking stories .
Reports now indicate that Do Kwon was contacted by an unknown person who rang Do Kwon’s doorbell to ask for Terra founder. This happened a few days after the initial UST depgging incident. One report states that Do Kwon was visiting her spouse and asked the Seongdong Police to designate an emergency protection officer. The crypto publication Forkast also confirmed the story with Seoul’s Seongdong-gu police.
According to the police report, the unidentified individual rang the doorbell. Kwon’s spouse answered. The unknown person asked, “Is your husband here?” According to the report, Terra blockchain tokens had dropped in value but Do Kwon’s home was still “exposed” to unknown investors. Seongdong police said they are continuing to investigate the matter and would “review any additional measures.”
