Showing posts with label luna. Show all posts
Showing posts with label luna. Show all posts

Law Enforcement in 195 Countries Join Search for WANTED Founder of LUNA, as Interpol Prepares Global 'Red Alert' Notice...

Do Kwon of Luna

Sources have informed us of a pending international police (Interpol) global 'red alert' to be issued shortly for the search and capture of Do Kwon, the co-founder of the failed cryptocurrencies terraUSD (UST) and Luna (LUNA), whose whereabouts are currently unknown after moving from Singapore, where he was evading South Korean justice.  

The Interpol security forces include a total of 195 member countries with cooperating law enforcement officials. 

Kwon is indicted in South Korea and possibly wanted internationally for various crimes, including investor fraud, money laundering and tax evasion and evade taxes... 

To the crypto world, he is responsible for a massive loss of investor funds, considered the event that started this year's bear market.

At the time of publishing, Do Kwon's profile has not yet been listed on the official Interpol wanted page. However, if accurate, he would become part of a list of 7,152 red alerts that are currently active.

His most recent statement showed he was still struggling to accept reality...

9 days ago, he denied that he was on the run and that he was at the order of "any government agency" that wants to communicate with him. "We are very cooperative and we have nothing to hide," Kwon said.

South Korean officials rebutted the statement, saying he 'clearly' is evading authorities.


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Author: Adam Lee 
Asia News Desk Breaking Crypto News


Arrest Warrant Issued for Terraform Founder Do Kwon in South Korea... But He's Not There..



South Korea has issued a warrant for the arrest of Do Kwon, the controversial founder of Terraform Labs. 

Four months have passed since the Terra blockchain's stunning failure that brought down their tokens LUNA and UST, a stablecoin.

The sell-off spilled over into other coins as those who just lost big on Terra tokens looked to secure what they had left, selling any other potentially volatile assets - this was then seen by traders who didn't lose a penny in LUNA or UST, and many of them joined in the sell off as well. 

One Problem - He's Not There...


South Korea issued the warrant, but we've been told by several people who would know - Do Kwon is in Singapore. 

There's no indication he's trying to evade arrest, but those usually able to reach him are (at least claiming) they have not been able to, and he's not returning calls, emails, or text messages.

We're also hearing that South Korea is preventing potential witnesses from leaving the country...


Terraform Labs staff members names have been added to South Korea's 'no fly list'.

Officials report that a judge also issued arrest warrants for five additional individuals on the basis that they violated a law controlling South Korean financial markets, with these coming on the same day,  speculation is that the additional people somehow work with or for Terraform.

Both the United States and South Korea have active investigations regarding Terra's failure, and the collapse of UST has been used as an example of why there needs to be a greater emphasis on stablecoins stability. 

Kwon was asked about potentially serving time in jail...


During an interview with Coinage that took place a month ago. The response he gave; "Life is long."

If that brings him comfort, there may be a bit of good news for Do Kwon in all this - I hear that in jail, every day seems longer!

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Author: Adam Lee 
Asia News Desk Breaking Crypto News


Man CONFRONTS Luna Founder AT HOME After Losing Over $2 Mil in Coins Recent Collapse...

Terraluna Luna founder breakin

A crypto investor was arrested today in Seoul, South Korea for trespassing at the residence of Do Kwon, the co-founder and CEO of Terraform Labs.

The suspect, whose identity has been concealed, allegedly entered the apartment complex in eastern Seoul last week and rang the doorbell when Kwon's wife was at home, looking for him.

Kwon is at the heart of the Terra cryptocurrency's and Luna's digital coin counterparts' huge downfall. Luna's price has dropped to under 1cent, having traded for over $80 at the beginning of the month, while their stablecoin built to always be worth $1 continues to massively miss the mark at $0.09.

"I've lost between 2 and 3 billion won (US$2.3 million)" the suspect told reporters during an inquiry at Seongdong Police Station.

The suspect, who runs an online broadcasting channel, alleges that people have committed suicide as a result of the stablecoins' decline.

Pleading with Kwon to take responsibility for the current catastrophe, the suspect said Kwon should apologize to the over 200,000 investors who have lost money.

Kwon's wife requested police protection after his visit, according to officials.

Terraform Labs says they are working on ways to keep its Terra blockchain and ecosystem running despite the collapse of its cryptocurrency.

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Author: Adam Lee 
Asia News Desk Breaking Crypto News

Luna Foundation Buys Another 4,130 Bitcoin - Surpassing Tesla's Holdings...

Luna foundation bitcoin holdings

The Luna Foundation bought an additional 4,130 Bitcoin, raising the foundation's total holdings to 39,897.98 BTC, as they continue to pursue their goal of purchasing $10 billion worth of Bitcoin and becoming the second-largest holder of BTC behind Satoshi Nakamoto.

The Luna Foundation still needs to purchase another $8.2 billion in Bitcoin to reach its goal, but their holdings are already quite impressive.  

In addition to their stash of Bitcoin, the foundation also holds $563 million in USDC and USDT stablecoins, and earlier this week announced a planned $100 million purchase of avalanche (AVAX) to continue to diversify their reserves.

Market Reaction... Missing.

However, the Luna Foundation's purchase of 4,130 Bitcoin had no effect on the cryptocurrency markets.

The reason is most likely a deal conducted outside of exchanges, which allows them to avoid slippage (raising the price on themselves), which also means not filling any sell orders - in short, everything is done in such a way that it is impossible to move the price, except for how other traders react to the news.

 At the time of writing, BTC is hovering around the $43k support level.

Where Do We Go From Here?

Indicators are now in a neutral zone, none are screaming 'buy' or 'sell' at the moment. 

This could result in lower prices before another rally, but if it manages to hold at this level or higher for the next few days that stability could attract buyers, once again building up momentum.  I'm watching for it to break the $48k resistance zone and open the door to $50k or even higher fairly soon.

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Author: Adam Lee 
Asia News Desk | Breaking Crypto News