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Here is what the founder of the Terra project had to say about the rise in the price of the digital currency LUNC

Here is what the founder of the Terra project had to say about the rise in the price of the digital currency LUNC

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Answer Here is what the founder of the Terra project had to say about the rise in the price of the digital currency LUNC

The last few days have seen a rebound in the price of the digital currency LUNC.

Following an arrest warrant for Do Kwon, founder of Terraform Labs, the price of the digital currency LUNC has dropped dramatically.

Currently, the cryptocurrency is in the middle of a recovery path.

At the time of this writing, the LUNC cryptocurrency is worth $0.0002970, down nearly 6% in the last 24 hours, according to CoinMarketCap.

Issuance of an arrest warrant and the effect of the price of the digital currency LUNC:

On September 14, the South Korean government issued an arrest warrant against Do Kwon, including five others working for the company.

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An arrest warrant was issued against the founder for violating market rules.

According to the arrest warrant, all six individuals named are in Singapore.

This led to a sudden drop in the price of LUNC, which lost about 15% in a short time.

Do Kwon’s comments:

Do Kwon responded to allegations that he was hiding from the authorities.

He made it clear that he was not on the run, as he claimed.

Do Kwon said his team cooperates fully with government agencies and has nothing to hide.

He added that his company is on the way to defend itself in multiple jurisdictions.

This is what Do Kwon told him:

I’m not on the run or anything similar.

For any government agency that has expressed an interest in outreach, we offer full cooperation and have nothing to hide.

We are in the process of defending ourselves in several jurisdictions – we have held ourselves to a very high standard of integrity, and we look forward to clarifying the truth over the next few months.

Read:Italian police accuse the founder of a cryptocurrency exchange of hacking fraud

It remains to be seen whether Do Kwon’s comments will push LUNC to last week’s levels, or will be without effect especially after confidence has eroded between him and investors in the project.

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