According to a Korean news outlet Yonhap report, the suspect, whose identity has been withheld, allegedly broke into the apartment in eastern Seoul a week ago and then rang Kwon’s doorbell while his wife was inside the house. After the event, she asked for police protection for them both.
Kwon previously said in a blog post that Terraform Labs is working on strategies to maintain the Terra blockchain and ecosystem operational despite the coin’s meltdown.
“I’ve lost between 2 and 3 billion won (about $2.3 million),” the suspect told reporters during an investigation at the Seongdong Police Station.
Kwon is the driving force behind the sudden drop of algorithmic stablecoin TerraUSD (UST) and its corresponding token Terra (LUNA). A month after its price reached a new all-time high of $119, LUNA is presently trading at $0.00012, down 45%, while TerraUSD is hovering around $0.09.
The suspect, who operates an online broadcasting station, claims that people have committed suicide in response to the decline of the stablecoin. The investor also wanted Kwon to apologise to more than 200,000 investors whose investments had gone down the drain.
Earlier on May 16, LUNA had almost all of their Bitcoin traded. Indeed, amid the uncertainty surrounding what had happened to the missing 80,000 BTC reserves, the Luna Foundation Guard published details about its missing reserves.
Between May 8 and 10, the Luna Foundation sold 80,082 Bitcoins for UST, leaving them with just 313 Bitcoins remaining.
