Do Kwon Flees Singapore, Denies Being on the Run as Terra (LUNA) Sinks

Do Kwon, the infamous founder of Terra (LUNA), is wanted by South Korean authorities, but that’s not the end of his problems. Apparently, the prosecutors have had enough of playing cat and mouse and have filed an official request to issue an Interpol Red Notice.

“Prosecutors on Monday have made a request to Interpol for their assistance to locate Kwon, whose whereabouts remain unknown, and to have him handed over to Korea,” explained the Prosecutor’s Office Spokesperson. Ultimately, this means Do Kwon would be in danger of arrest anywhere in the world.

Do Kwon Appears Out of Nowhere on Twitter

The infamous Terra (LUNA) leader shook the crypto world in May. The algorithmic stablecoin Terra (UST) crumbled, leaving investors without a piece of the supposedly decentralized pie. Then, Do Kwon hard-forked the network and rebranded the old LUNA as Terra Luna Classic (LUNC).

For a moment, the rebranded version made waves on Twitter, leaving crypto enthusiasts and influencers puzzled. For instance, social influencer David Gokhshtein called the situation “A game of musical chairs” and remarked that only “gamblers” could engage in trading Luna Terra Classic (LUNC).

The situation occurred around the time Do Kwon released his first interview since the Terra (LUNA) fiasco. On Saturday, after another month of silence, Do Kwon posted a thread on Twitter, claiming that he is “not on the run – or anything similar.” In addition, Terra (LUNA) had apparently held themselves “to an extremely high bar of integrity.”

However, the South Korean authorities are not convinced at all, accusing Do Kwon of escaping Singapore right after the arrest warrant.

Oops!… Kwon Did It Again

The $60 billion crypto massacre in May shredded to pieces well-known and highly-successful crypto funds like Three Arrows Capital (3AC), Voyager Digital, Celsius, and others. Currently, the new version Terra (LUNA) trades at $2.92, plunging by 48.7% in the last 7 days. On the other hand, Terra Luna Classic (LUNC) trades at $0.00032044, falling down by 23.7% in the past week.

On the Flipside

  • Some crypto enthusiasts on Twitter claim that Luna Terra Classic (LUNC) is community-owned.
  • Many crypto influencers deny claims that Do Kwon is no longer on the project.
  • South Korean authorities issued probes on multiple other Terra insiders.

Why You Should Care

The downfall of Terra (LUNA) & Terra (UST) in May turned into a crypto grim reaper, counting over $60 billion swallowed up.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Tadas is a reporter, focusing on the latest tendencies of the crypto galaxy. He spends his time digging deeper into specific areas like meme coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins.