Last week, TerraUST and LUNA fell to zero, wiping off every dollar in investor accounts. The anger aimed against the creator of Terraform Labs, Do Kwon, reached a fever pitch, with several individuals accusing him of mishandling the situation. A man rushed into Do Kwon’s residence in Seoul, South Korea, and rang the doorbell. The intruder left the premises after questioning the wife of Terra’s founder whether he was at home. Do Kwon’s wife sought police protection due to threats against her husband’s life.
According to reports, the intruder lost $2,400,000 due to the fatal accident that ended his life. The invader is a bitcoin streamer entitled ‘Chancers,’ and he expressed regret about the collapse.
“I believed I was going to die,” Chancers told the BBC, adding, “I lost a substantial sum of money in a short period.” “I lost almost $2.4 million in Bitcoin.” He said that he had invested $800,000 in Terra LUNA, but that the money had all been lost.
Chancers said that he has been investing in cryptocurrencies since 2017 and has accumulated substantial wealth over the last five years. In addition, he stated that he was in the top one percent of wealth but had lost everything. “I was in the top one percent of earners in Korea, but the accident has put me in grave jeopardy.
Supposedly, when the Bitcoin collapsed like a house of cards, he Googled Do Kwon’s address. When asked why he broke into Do Kwon’s residence in the first place, he said that he wanted to inquire about Do Kwon’s plans for Luna. I wanted to ask him about his plans for Luna since I had suffered a significant loss and want to talk with him directly.”
Do Kwon, the founder of Terra, may be incarcerated in the United States.
Terra LUNA Renaissance
Do Kwon is making every effort to revive Terra LUNA. The developer suggested hard forking LUNA and decoupling it from UST and other algorithmic features.
The governance vote is now underway, with 62 percent approval for Do Kown’s proposal. The poll will conclude tomorrow, and Kwon may win. Launch and snapshot information for the Terra LUNA Hard Fork may be found on this page.
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