Terra (LUNA) Crypto Founder Do Kwon Facing Arrest Warrant in South Korea
Kwon and five other people are sought on suspicion of crimes related to the Terra network.

No other project in the world has received the same level of investor interest as Terra Classic (LUNC-USD). The project went from being a credible Ethereum (ETH-USD) competitor to a very contentious failure in one fell swoop. The network's devoted users aren't happy with the development of a 2.0 Terra (LUNA-USD) network either. Do Kwon, the creator of the Terra (LUNA) crypto network, is now the subject of arrest warrants in his native South Korea.
The market's stunning fall has been the focus of the cryptocurrency industry this summer. Once again, the industry's market valuation dipped below $1 trillion, and major players like Bitcoin (BTC-USD) had their value decline by tens of thousands of dollars. Through it all, Terra was a significant plot point.
Investors may not be emphasizing the project's crucial role in upending the rest of the market sufficiently.
Terra didn't simply fall apart dramatically. Everyone was taken down with it. The value of LUNC fell as a result of the TerraClassicUSD (USTC-USD) stablecoin being de-pegged. As one of the top 10 cryptocurrencies, LUNC was held in very deep quantities by a large number of financial institutions.
Due of this, several of these investment firms missed margin calls and incurred significant debt. The rest is history: other stablecoins lost their own pegs, coins fell in sympathy, and investor confidence was completely undermined.
Numerous parties have questioned the Terra leadership during this whole crisis. Investors and authorities are both interested in learning the cause of the project's collapse. They are more interested in learning what Do Kwon, the project's originator, may be concealing.
Korean Authorities Are Looking for Do Kwon, the Founder of Terra (LUNA) Crypto
Beyond the evident network failure, there has been a lot of disagreement, according to the Terra crypto team. Online, there are increasing numbers of reports concerning authorities' new inquiries and withheld information. Today's arrest warrant for founder Do Kwon marks the culmination of all of this.
The rumor that Do Kwon was behind another unsuccessful stablecoin project spread in the days after USTC's un-pegging and the decline in LUNA pricing. The project was based on the same same principles as USTC, however it was never even started. Investors in Terra were not informed of Do Kwon's failure to reach the $1 mark.
After the developers published a hard fork proposal, there was yet another round of disagreement.
The community was adamantly opposed to the plan, as seen by early debate. Nevertheless, it was approved with 65% of the vote. According to the research, Do Kwon used his own crypto, which he had been keeping from Terra users, to rig the vote.
Do Kwon is the subject of investigations by both South Korean authorities and the Securities and Exchange Commission (SEC) of the United States. Regulators in Korea are ruthlessly scouring Terra-related businesses and Daniel Shin, the co-founder of the network,'s home.
The culmination of this inquiry is currently Do Kwon's arrest warrant. Kwon is wanted by the authorities in South Korea on suspicion of fraud and illicit fundraising. There are also open warrants for five other people. Kwon claims he is innocent of these accusations. He continues by saying that the demise of Terra has cost him a significant portion of his personal riches.
Bonus rebate to help investors grow in the trading world!