Seongdong Police in Seoul are reportedly investigating a case of a break-in at the home of Terraform Labs’ Do Kwon. This comes amid the massive drama that has unfolded in the Terra ecosystem over the past week.
- Based on a complaint that was filed, an identified person rang the doorbell at around 6:23 p.m. After Kwon’s wife answered the door, the person allegedly asked for the founder before fleeing the scene.
- No further details have been released by the authorities so far. Whether the unidentified person was a LUNA investor has not yet been confirmed. A police officer was quoted as saying:
“We plan to use the investigation to consider what additional measures are needed.”
- Kwon has attracted significant attention and criticism following the collapse of the Terra ecosystem’s flagship stablecoin UST and native token LUNA, which sparked a massive meltdown in the broader crypto market this week.
- Known for his confident demeanor, Kwon has managed to attract high-profile investors. However, he has faced fierce backlash for his online behavior, with critics dismissing it as “poor”.
Here is a thread from $LUNA founder Do Kwon calling people poor.
Its coin is down 99.99% from last month’s high. https://t.co/0lA4JMczvQ pic.twitter.com/o6cnI1auYL
— unusual_wale (@unusual_wale) May 12, 2022
- The Terra Validators stopped them Blockchain for the second time, as the dev team looked for ways to “devise a plan to restore them.”
- To give the embattled network a little help, Swiss asset manager – GAM Holding AG – has announced the start of negotiations with Terraform Labs. As previously reported, the old financial institution intends to stablecoin and investing around $2 billion – $3 billion to “absorb excess supply of UST during its current sell-off.”
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Source: Crypto News Deutsch