The intensified search for TerraForm Labs founder Do Kwon continues. South Korean authorities yesterday confirmed that Interpol has issued a Red Notice for the infamous founder of Terra (LUNA). However, Do Kwon himself broke the silence on Twitter and denied putting any effort into hiding.
Moreover, Kwon was asked what his stance was on Interpol’s Red Notice sending cops in 196 countries after him. The TerraForm Labs founder replied by saying “for something that has notice in the name it sure gives no notice.”
Nobody Checked Under Kwon’s Bed
With Do Kwon being sociable on Twitter, the questioning of his whereabouts led to a tirade of memes. The Crypto Waldo has been rumored to be under the bed, hiding behind a pillow while Kwon himself reported being in his living room, writing code. The thread on Twitter is spiced up with cigarette & soap jokes, while the conversation between Do Kwon and his old pal, who goes by the Twitter username TraderSZ, ended with a foaming shower gel recommendation.
Moreover, Do Kwon argues that Interpol’s Most Wanted List and Red Notice issuance are not made public. In addition, Kwon claims his face is not on the database. Meanwhile, South Korean authorities are taking it up a notch and made the move to freeze Do Kwon’s Bitcoin (BTC) assets.
The South Korean prosecutors sent out an official request to freeze Do Kwon’s 3,313 Bitcoins (BTC) he’s holding in OKX & KuCoin crypto exchanges. That sums up to about $67 million, which is only the start of the end for Do Kwon as South Korean authorities are ready to book the Terra (LUNA) & Terra (UST) founder for tax evasion, breach of capital markets law and multiple securities laws.
Terra Luna Classic (LUNC) Goes for a Run Thanks to CZ
This Tuesday afternoon, Twitter has welcomed CZ, the CEO of Binance, with a warm #ThanksCZ trending hashtag. That comes a day after Binance implemented a Terra Luna Classic (LUNC) burning mechanism to help recover the shredded to moth-eaten $LUNC.
Terra Luna Classic (LUNC) trades at $0.00027915, according to CoinGecko. At the time of publication, it’s on a downward spiral again, hitting a 9.7% loss for the last 24 hours. The original Terra token had a 45% sprint yesterday after CZ’s Terra Luna Classic (LUNC) burning announcement, but it turned out to be short-lived.
On the other hand, the rebranded Terra 2.0 (LUNA) also dropped by 8.5% during the last 24 hours. At press time, Terra (LUNA) trades at $2.56, according to CoinGecko.
On the Flipside
- In spite of the popular belief that Terra (LUNA) and Terra Luna Classic (LUNC) should dip in the wake of the news of Do Kwon’s arrest warrant, both tokens had double-digit runs yesterday.
- That raises the question of how much of the current Terra (LUNA) blockchain is community owned.
- Five more Terra (LUNA) insiders are being chased by police worldwide.
- Interpol’s Red Notice can be both public and private.
Why You Should Care
The fiasco of the Terra (UST) algorithmic stablecoin and its sister cryptocurrency Terra (LUNA) has caused a crypto massacre in May, sending $600 billion down the tubes. Furthermore, the overall damage linked to Terra (LUNA) exceeds $2 trillion, as Voyager Digital, Three Arrows Capital (3AC), and Celsius (CEL) went to pieces because of heavy investments in the failed project.
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