LUNA Founder Do Kwon Denies That $39.6M In Assets Have Been Frozen
Do Kwon the CEO of Terraform and the Founder of the Crypto LUNA has posted to twitter denying that his Crypto assets worth $39.6 million have been frozen.
https://twitter.com/stablekwon/status/1577639160692854784?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1577639160692854784%7Ctwgr%5E56d57aa328fb376956ae9ddc7990472ec6a9e5d7%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.coindesk.com%2Fbusiness%2F2022%2F10%2F05%2Fsouth-korean-prosecutors-freeze-396m-in-crypto-owned-by-terraforms-do-kwon-report%2F
Do Kwon is also a wanted man as authorities have set out a red notice for his arrest, and have given notice for him to return his passport or have it revoked.
So where did this all start? Well, earlier this year, within 48 hours, $LUNA crashed from $120 to $0.02. This was a significant record of loss in the crypto industry. In December 2021, Terra even passed BNB Smart Chain and became the 2nd largest DeFi protocol. Over $20 Billion was invested. It got to the point where $LUNA sold for over $100, until the May Terra Luna crash that shook the world of cryptocurrency, leaving many in heavy financial losses.
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