After the collapse of cryptocurrency Terra (LUNA) and stablecoin Terrausd (UST), the crypto investor who knocked on Do Kwon’s door was arrested. He lost about $2.4 million and is currently under investigation by South Korean police.” I felt like I was going to die,” he said of losing his investment.
An investor who went to Do Kwon’s house is under investigation
The collapse of cryptocurrency Terra (LUNA) and Stable Coin Terraus (UST) wiped out many investors. One investor in particular sought answers directly from Kwon Do-hyung (aka Do Kwon), CEO of Terraform Labs, the company behind the two cryptocurrencies.
The investor, known as “Chancers,” is a South Korean social media personality who streams on cryptocurrency-related topics. He lost about 3 billion won (about $2.4 million) in the LUNA and UST collapses. He told BBC News that.
I thought I was going to die. I lost a lot of money in a short period of time. About $2.4 million in cryptocurrency was wiped out.
He explained that he was angry that he had not heard from Do Kwon after LUNA and UST crashed. He then searched online and found Kwon’s home address in Seoul.
“I wanted to ask him about LUNA’s plans,” Chancers said.” I wanted to talk to him directly because I had suffered a great loss.”
The frustrated investor crossed the local area and knocked on Kwon’s door on May 12. He streamed the event on his online channel. At the time, about 100 people were watching.
However, when he rang the doorbell of Kwon’s apartment, his wife answered and said that her husband was not home. She also called the police, but when the police arrived, the Chancers had already left the building.
The investor learned the next day that the police were looking for him. He then surrendered himself at the Seongdong police station in Seoul on the morning of May 13.
“I surrendered to the police station twice,” Chankers stressed, insisting. ‘I did not trespass on Do Gwon’s land, but under Korean law, it is illegal to go there and try to talk to him. I didn’t know that.”
Chancers told the news outlet that he expects to face fines and a criminal record that could make his life difficult. He opined.
It is very painful. I lost a lot of money and now I am being investigated by the police. I originally worked as a public servant in Korea. But if I am convicted in this case, I may not be able to go back to being a public servant.
“In Korean culture, the issue itself is not important, but the fact that I caused a scandal.” He explained.” I even had to apologize publicly as a “sinner. I never thought this would be so big. It is very sad.”
On Wednesday, police announced they would close their investigation and send the case to prosecutors to charge him.
Do Kwon claims to have been in Singapore since last December. However, he dissolved Terraform Labs Korea and closed the company’s Korean office days before LUNA and UST collapsed.
South Korean authorities have launched an urgent investigation into the collapse of the two coins. This week, South Korean police asked crypto exchanges to freeze the assets of the Luna Foundation Guard.
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