Terra co-founder’s wife seeks police protection after LUNA price crashes to zero
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Answer Terra co-founder’s wife seeks police protection after LUNA price crashes to zero
According to a report by South Korean business media outlet MoneyToday, the wife of Terraform Labs founder Kwon Do-Hyung filed a police report after an unknown person broke into her apartment building and rang the doorbell in the evening.
The unexpected guest asked if her husband was at home and then left.
Then Kwon Do’s wife panicked and applied to the police to assign an emergency protection person.
According to the report, the controversial businessman’s home address is known to unidentified investors in his cryptocurrency business.
After Terra’s collapse, suicide hotline numbers were installed on a “subreddit” dedicated to one of the most prominent cryptocurrency projects.Read:One of the oldest Thai banks asks the crypto community to wait for a big Ripple announcement
The community is filled with grim posts about losing everything overnight.
It has been reported that alerts have been issued across Seoul to report any suicide attempts related to the crash of the LUNA cryptocurrency.
Terra’s LUNA coin has collapsed to almost zero, trading at around $0.00005.
The cryptocurrency was trading at $119.18 a little over a month ago.
Despite the fact that the circulating supply of LUNA has now ballooned to 6.5 billion coins, the UST stablecoin has become worthless as well, currently trading at just $0.16.
The ongoing collapse has dashed any hopes that the peg will eventually recover to the much needed $1.
In addition, Terra has been officially shut down for the second time in 24 hours.
According to the announcement, auditors are working on a plan to reshape it.Read:What can be expected from the case of Ripple and the SEC? How will it affect the crypto industry?
Meanwhile, Kwon Do, known for his abrasive and seditious tweets, has been eerily silent for the past 24 hours.
Terra is officially suspended and major crypto exchanges are removing it from circulation…Details here
BTC recovers the $30K level…is the correction over?
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