Do Kwon, Who Caused Bitcoin (BTC) and LUNA to Crash, Records Statement

Do Kwon, Who Caused Bitcoin (BTC) and LUNA to Crash, Records Statement

The collapse of Terra Luna, the 7th largest cryptocurrency in the history of the cryptocurrency industry in recent months, caused many investors to go bankrupt. This situation also made a big noise in traditional media outlets and caused reactions.

Apart from the collapse of LUNA, the reset of TerraUSD (UST), a stablecoin indexed to the US dollar, resulted in many regulatory bodies cracking down on the cryptocurrency industry. Do Kwon, the founder of the Terra blockchain, stated that South Korean investigators contacted him and that they are investigating the events. Authorities had recently banned Terra developers from leaving the country. After the events, it was noted that many lawsuits were filed against Do Kwon both in South Korea and in the USA. Do Kwon made the following statements about the legal process: "The only thing we will do is to convey the facts as we know them to the authorities. We will be completely honest and we will deal with the decisions made regardless of the consequences." While it was revealed that Do Kwon had recently traveled from South Korea to Singapore, this trip was interpreted as an escape by some investors. This caused the allegations on Do Kwon to increase. Underlining that he went to Singapore before the Terra Luna disaster, Kwon claims that he did not flee due to the events. It was learned that Do Kwon made this travel decision due to the increase in threats against his family in South Korea. The investment information, comments and recommendations in this article are not investment advice. Investment advisory services are provided individually, taking into account the risk and return preferences of individuals. The content contained herein is in no way directive and the recommendations are general in nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in accordance with your expectations.