A crypto investor has been arrested after knocking on Do Kwon’s door following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He misplaced about $2.4 million and is now beneath investigation by the South Korean police. “I felt like I used to be going to die,” he stated about shedding his investments.
Investor Underneath Investigation for Going to Do Kwon’s Dwelling
The collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST) has worn out numerous buyers. One investor particularly sought direct solutions from Kwon Do-hyung (aka Do Kwon), CEO of Terraform Labs who’s behind the 2 cryptocurrencies.
The investor, often called “Chancers,” is a Korean social media persona who conducts streams on cryptocurrency-related matters. He misplaced round 3 billion gained ($2.4 million) within the LUNA and UST collapse. He instructed BBC Information:
I felt like I used to be going to die. I misplaced some huge cash in a brief time period. Round $2.4m of my cryptocurrency was worn out.
He defined that he was indignant with the dearth of communication from Do Kwon after LUNA and UST went into freefall. He then searched on-line and located Kwon’s residence tackle in Seoul.
“I wished to ask him about his plans for LUNA,” Chancers stated. “I suffered an enormous loss and wished to speak to him straight.”
The pissed off investor traveled throughout his residence metropolis and knocked on Kwon’s door on Might 12. He streamed the occasion on his on-line channel; about 100 folks had been watching on the time.
Nonetheless, after ringing the doorbell of Kwon’s condominium, his spouse answered the door and stated her husband was not residence. She additionally known as the police however Chancers already left the constructing after they arrived.
The investor came upon the following day that the police had been searching for him. He then surrendered himself at Seoul’s Seongdong Police Station on the morning of Might 13.
“I surrendered myself to the police station twice,” Chancers pressured, insisting: “I didn’t trespass on Do Kwon’s property, however in line with Korean legislation, it’s unlawful to simply go there and attempt to discuss. I didn’t know.”
Chancers instructed the information outlet that he expects to face a nice and a felony file that would make his life troublesome. He opined:
It’s so arduous. I misplaced some huge cash and now I’m being investigated by the police. I initially served as a civil servant in Korea. But when I’m convicted of this case, I’ll not be capable of return to the civil service once more.
“In Korean tradition, the issue itself will not be essential however slightly the truth that it precipitated a scandal,” he defined. “I even needed to apologize publicly as a sinner. I had no thought this might be so massive. It’s very unhappy.”
Do Kwon claims that he has been in Singapore since December final 12 months. Nonetheless, he dissolved Terraform Labs Korea and shut down the corporate’s Korean workplaces simply days earlier than LUNA and UST collapsed.
South Korean authorities have launched an emergency investigation into the implosion of the 2 cash. This week, the Korean police requested crypto exchanges to freeze the belongings of the Luna Basis Guard.
Do you suppose it was fallacious for the investor to knock on Do Kwon’s door after he misplaced tens of millions within the LUNA and UST crash? Tell us within the feedback part beneath.
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