LUNA sinks 20% after South Korea issues arrest warrant for Do Kwon

2 years ago

Terra’s LUNA declined 20% connected the quality that South Korea has issued an apprehension warrant for its laminitis Do Kwon.

#PeckShieldAlert $LUNA has dropped -20% https://t.co/rlzA0Miahb pic.twitter.com/z398HMOBgz

— PeckShieldAlert (@PeckShieldAlert) September 14, 2022

The token, which has enjoyed a caller question of involvement that pushed its terms up by implicit 80% successful the past 7 days, has seen its worth driblet by 21.4% successful the erstwhile 24 hours to $3.35, according to CryptoSlate data.

South Korea issues Kwon’s apprehension warrant

Bloomberg News reported that a tribunal successful Seoul had issued a warrant for Kwon’s apprehension and that of 5 others.

The study said South Korea’s prosecutor’s bureau confirmed the apprehension warrant.

Local media Yonhap News said the apprehension warrants were besides issued for the founding members of Terraform Labs, Nicholas Platias, and the CEO of the affiliated Tchai Corporation, Han Mo.

The apprehension warrant is valid for 1 year. The prosecutors are consenting to effort tactics similar invalidating Kwon’s passport and collaborating with Interpol to bring him in.

Do Kwon presently lives successful Singapore.

Since Terra’s implosion successful May, respective crypto assemblage stakeholders person questioned wherefore the authorities were yet to apprehension Do Kwon for his relation successful the crash.

On Sept. 13, Yonhap reported that South Korean prosecutors investigated whether the crashed Terra tokens had information features.

Kwon has repeatedly maintained his innocence though helium admitted that helium mightiness person made immoderate mistakes. He besides claimed that the prosecutors had yet to scope retired to him.

In August, Kwon submitted an lawyer assignment missive to prosecutors successful South Korea successful mentation for his defense.

Crypto assemblage welcomes news

The crypto assemblage has welcomed quality of the apprehension warrant, expressing overmuch happiness astir the development.

Conor Brandson said:

“I don’t deliberation it’s a astonishment that he’s being officially accused of a crime. It’s a astonishment an apprehension warrant didn’t hap sooner.”

FatMan Terra described the quality arsenic a “great time for Justice.”

Do Kwon, the antheral who brought truthful overmuch fearfulness and suffering to thousands of radical crossed the satellite for his ain enrichment, is present officially a wanted fugitive.

A large time for justice. And determination are inactive a fewer much shoes near to drop. May the champion antheral win.

— FatMan (@FatManTerra) September 14, 2022

This is incredibly bullish.

Arrest warrant retired for Do Kwon w/ a Interpol reddish announcement but I ever said the bull marketplace would not statesman until helium is down bars. pic.twitter.com/MS6N9jzZzv

— McKenna (@Crypto_McKenna) September 14, 2022

Do Kwon destroyed much lives with $LUNA and $LUNC than Bitboy, The Moon Carl, MMcrypto, Ian Balina combined and multiplied by 100

Hopefully helium serves a agelong sentence.

Karma ever comes around. https://t.co/UeOWbIPEEc

— Mac (@MacnBTC) September 14, 2022