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Following the aftermath of the Terra blockchain tokens LUNA and UST losing significant value, reports indicate that the Terraform Labs founder Do Kwon’s apartment was visited by an unidentified person. Do Kwon’s spouse has requested protection from the Seongdong police in Seoul after the unknown person broke into the apartment building and rang the doorbell asking for Kwon.

Unidentified Person Breaks Into Do Kwon’s Apartment Building Seeking Terra Founder’s Whereabouts, Kwon’s Spouse Seeks Help From Police

Not too long ago, on May 1, 2022, the Terra blockchain token LUNA was the eighth-largest market cap among 13,000+ cryptocurrencies in existence. LUNA’s market cap on that day was $28.3 billion and terrausd (UST) was two spots below LUNA with an $18.5 billion market valuation. Both crypto market caps combined on May 1, 2022, were around $46.8 billion in value and today, around 91% of that value has disappeared.

At the time of writing, UST’s and LUNA’s market cap combined equates to $3.9 billion in value. Terra’s fallout has caused a lot of pain among UST and LUNA investors and many have been very upset about how the situation was handled. Some investors lost their life savings and children’s college funds, and others managed to escape with a haircut in terms of losses. Social media and forums are filled with horrifying stories of people who are severely depressed over the Terra situation and losing funds.

Now, after a few days since the initial UST de-pegging incident, reports note that an unidentified person visited Do Kwon’s apartment building and rang the doorbell asking for the Terra founder. One local report explains that Do Kwon’s spouse was home and she asked the Seongdong police to designate an officer for emergency protection. The crypto publication Forkast also spoke with Seoul’s Seongdong-gu district police and confirmed the story.

The police report notes that the unidentified person rang the doorbell and Kwon’s spouse answered. “Is your husband in the apartment?” the unknown person said. The report said that while the Terra blockchain tokens were down in value, Do Kwon’s home was “exposed to unspecified investors.” Seongdong police also noted that they were investigating the situation further and “plan to review additional measures.”

What do you think about the unidentified person going to Do Kwon’s home and his spouse asking for police protection after the Terra blockchain implosion incident? Let us know what you think about this subject in the comments section below.

4 thoughts on “Report: Terra Founder Do Kwon’s Spouse Seeks Police Protection After the LUNA and UST Fallout

  1. I'm half surprised we haven't seen someone on here that has decided to do a WSB style Yolo using Coinbase One. Seeing that you get free trades I'd almost expect some would try to do some kind of ladder trading scheme or short scheme and take advantage of the situation.

    Although this place has become a lot more quiet since the bear started. Maybe all the brave and the bold got scared off.

    Anyway, what do the rest of you think? Think there's an opportunity to do that or is the market too turbulent to even consider such a gamble?

  2. First of UK based here, so I don't know the full ins and outs of US economic situation and politics.

    I've seen quite abit of talk/comments etc regarding something tomorrow where the US government is going to announce something, Q2 rates, basically indicating if it's a recession or not. I've also seen that they've apparently changed the terminology of what a recession is in.

    1st question – What are they exactly announcing Tomorrow?

    2nd question – With regards to the announcement what are your predictions on what will happen to the price of Cryptocurrency?

    I think alot of people hold the sentiment that we are at some point soon heading into a recession. I sincerely hope if we do you are all able to keep financially stable even if it means a few cut backs.

    3rd question – Do you have a plan in place for a recession with regards to crypto, are you going to continue to DCA, take a break or just cross that bridge when you come to it?

    Thanks in advance for any replies

  3. I know it depends and one alt that pulls a shiba could mean a small amount. I guess I’m just figuring a general BTC ETH type investment and maybe other higher ranked Alts…

    Assuming we break ATHs again and maybe even clear above a $100k BTC how much money should someone try and get in during this bear/sideways market now?

    I’m afraid you would still need like $50k or more to make that kind of money and I do not make enough money to hit that goal within the year…but I’m hopeful maybe $10k could make at least six figures as that seems more realistic for many people here.

    What are your stacks like? Goals? And thoughts?

  4. I've come scross this reasoning to buy a token: ” I know it's a scam, but they will need to pump the price eventually to rug…”

    In short, no they won't.

    In a vast majority of cases, that eventual pump never comes — most scammy tokens just slowly bleed out a decimal after a decimal after a decimal with no intention to near the ATH.

    All buy orders are good enough for the devs to dump their shitcoins onto gradually but unfailingly a month after month. After all, they know the token is absolutely worthless, so they will gladly take your 10 bucks and whatnot.

    And the initial pump was created for one single reason — to fill chumps with the hope of recovery.

    Stay safe and gamble responisbly!

    Tldr: “this scammy token will be pumped eventually for the devs to make money” is wrong. The devs are perfectly fine selling at any price that is not zero.

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