LUNA falls sharply on Do Kwon’s arrest allegations

• Terra LUNA crashed final yr following the collapse of its Terra UST stablecoin challenge.
• The crash was adopted by a tough fork the place the present Terra LUNA token was created.
• There’s information that Terra LUNA’s founder Do Kwon has been arrested.

Terra (LUNA) worth has dropped by about 7% after information of the arrest of the founding father of Terraform Labs, Do Kwon, surfaced. At press time, LUNA was buying and selling at $1.31.

There are experiences that Do Kwon was arrested in Montenegro; one thing that has been confirmed by Montenegro’s minister of inside Filip Adzic by a put up on Twitter.

U PODGORICI UHAPŠEN JEDAN OD NAJTRAŽENIJIH SVJETSKIH BJEGUNACA

Crnogrska policija lišila je slobode lice za koje se sumnja da je jedan od najtraženijih bjegunaca, južnokorejski državljanin Do Kwon, suosnivač i izvršni direktor Terraform Labs sa sjedištem u Singapuru.
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— Filip Adzic (@filip_adzic) March 23, 2023

A translation of the tweet reads:

“Montenegrin police have detained an individual suspected of being probably the most needed fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs.”

In keeping with Adzic, Do Kwon was arrested on the Podgorica airport with falsified paperwork. The minister nonetheless stated that he was “nonetheless ready for official affirmation of identification.”

A number of authorities have been in search of Do Kown

Do Kwon was the goal of plenty of investigation our bodies across the globe and was even on Interpol’s crimson discover after the implosion of the TerraUSD (UST) stablecoin and the $40 billion Terra LUNA ecosystem final yr.

The implosion of the Terra LUNA collapse despatched shockwaves throughout the crypto market inflicting plenty of different crypto tasks to come back down.