The disgraced leader of the fallen TerraForm Labs, Do Kwon, is no longer in Singapore, according to South Korean authorities. Do Kwon had his passport revoked after the South Korean government gave him 14 days to surrender, making it extremely difficult to cross borders.
After a lengthy cat-and-mouse game, he is now residing somewhere in Europe as an illegal immigrant, according to the Korean authorities. In addition, the self-proclaimed TerraForm Labs insider FatManTerra reported that the police gathered valuable evidence, including a recorded phone call where Do Kwon ordered TerraForm Labs staff members to manipulate the price of Terra (LUNA).
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Korean prosecutors have obtained a private conversation between Do Kwon and an employee where he gives orders to manipulate LUNA's market price. They have also confirmed that he is currently residing in Europe as an illegal immigrant. https://t.co/z7Z5R8rtEq— FatMan (@FatManTerra) November 3, 2022
Do Kwon’s Planning an International Cop Conference
Interestingly, Do Kwon’s wild response to the claims includes the rather unconventional idea of throwing a conference where “Cops from around the world are welcome to attend.” The downtrodden entrepreneur even went as far as to say, “Will even pay for your plane ticket. Show up if you dare”, implying that the South Korean authorities should be ashamed of themselves for “spreading falsehood on the taxpayers’ dime.”
Ever since Interpol issued the Red Notice for Do Kwon’s arrest and sent police from 195 countries after him, the notorious founder of Terra (LUNA) has been denying everything, as if living in an alternative reality. For instance, Mr. Kwon said he “hadn’t noticed the Red Notice.”
For those of you that have been spreading falsehood on the taxpayers dime, you are invited with VIP honors - will even pay for your plane ticketShow up if you dare— Do Kwon (@stablekwon) November 3, 2022
Terra Luna Classic (LUNC) Sees a Green Week
The global chase for Do Kwon hadn’t stopped the Crypto Frankenstein Terra Luna Classic (LUNC) from gaining 8.6% in the last seven days. This could be due to the fact that Binance is holding Terra Luna Classic (LUNC) burning events regularly, with the next one coming on January 2nd, 2023. The flatline charts of the imploded cryptocurrency still rank relatively high, at the 40th spot by total market cap. At press time, Terra Luna Classic (LUNC) trades at $0.00017539, which is close to nothing compared to the $119.18 all-time high (ATH) set eight months ago.
Ultimately, this indicates that there’s still a community behind Terra (LUNA). The rebranded, newly-forked blockchain Terra (LUNA) also recorded 5% gains since last week. At press time, Terra (LUNA) is priced at $1.66, having gained 1.6% in the last 24 hours. The scandalous altcoin ranks just outside of the TOP 100 and marks the latest failure from TerraForm Labs, as Terra (LUNA) is close to full retraction of its ATH at $18.87 set on May 28th, 2022.
#Binance has announced they WILL be burning $LUNC next time January 2nd, 2023!Are YOU ready for the next MAJOR #LUNC burn? pic.twitter.com/uPdeWStx8v— Classy (@ClassyCrypto_) December 4, 2022
On the Flipside
- Besides the police investigation, a vigilante group called the UST Restitution Group is actively looking for Do Kwon.
- One out of five main Terra (LUNA) insiders, Yoo, was arrested in October but then released on bail, according to Korean authorities.
- Interpol also launched a Police Office in the metaverse in order to fight cybercrime. Interpol’s metaverse aims to combat crypto-related hacks and scams on the rise in 2022.
Why You Should Care
The Terra (LUNA) and Terra (UST) implosion back in May 2022 sent $60 billion down the drain. The contagion quickly spread and put previously successful crypto hedge funds out of business, like Three Arrows Capital (3AC). Ultimately, the shocking Terra (LUNA) fiasco is linked to about $2 trillion in losses in the crypto sector.
Dig deeper into the gripping stories of crypto hacks and scams:
Two Estonians Charged in $575 Million Crypto Mining Service Scam
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