In the wake of the fallout from the Terra blockchain tokens LUNA and UST losing significant value, reports indicate that the apartment of Terraform Labs founder Do Kwon has been visited by an unknown person. Do Kwon’s wife sought protection from Seongdong Police in Seoul after an unknown person broke into the apartment building and rang the doorbell for Kwon.
An unknown person breaks into Do Kwon’s apartment building in search of Terra founder’s whereabouts, Kwon’s husband seeks help from the police
Not long ago, on May 1, 2022, the Terra blockchain token LUNA had the eighth largest market capitalization out of more than 13,000 cryptocurrencies in existence. LUNA’s market capitalization that day was $28.3 billion Two points below the LUNA were terrausd (UST) with a 18.5 billion dollars Market assessment. The cryptocurrency market combined capped on May 1, 2022 was about $46.8 billion in value and today, about 91% of that value has disappear.
At the time of writing, UST and LUNA’s combined market capitalization is $3.9 billion in value terms. The Terra fallout caused a lot of pain among UST and LUNA investors and many were very upset about how the situation had been handled. Some investors lost their life savings and college kids’ money, and others managed to get away with cutting their hair in terms of losses. Social media and forums are filled with scary stories Of people suffering from severe depression due to Terra situation and money loss.
Now, a few days after the initial floor cabinets disengagement incident, reports indicate that an unidentified person visited the Do Kwon apartment building and rang the doorbell asking for the founder of Terra. A local report states that Do Kwon’s wife was at home and asked Seongdong police to appoint an emergency protection officer. Crypto magazine Forkast also spoke to the Seongdong-gu District Police in Seoul and confirmed the story.
The police report indicates that the unknown person rang the doorbell and Kwon’s wife answered. “Is your husband in the apartment?” said the unknown person. The report said that while the Terra blockchain’s tokens declined in value, Do Kwon’s home was “exposed to unidentified investors.” Seongdong police also indicated that they are investigating the situation further and “plan to review additional measures.”
What do you think about the unidentified person going to the home of Do Kwon and his wife to seek police protection after the Terra blockchain explosion incident? Tell us what you think about it in the comments section below.
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