At the request of the authorities of South Korea, his country of origin, all the sources in the world now they are called to arrest him and transfer him to Seoul.
The Seoul prosecutor’s office issued an arrest warrant against the businessman a few days ago. make kwon is accused of causing thousands of investors to lose money at the time of the fall of the stable coin TerraUSD last May.
The currency lost parity with the US dollar, causing losses of at least $40 billion for savers who took positions in the ustthe stable coin issued by Terraform Labs.
At the same time, the shock wave caused by this collapse of Terra caused investors to be wary of cryptocurrencies, leading to a general drop in the prices of almost all tokens.
What future for the Luna/Terra project?
To overcome the collapse of the first project, Do Kwon launched a new crypto project a few weeks after the collapse called Earth 2.0.
After a mixed start, Earth (MOON) It has established itself as one of the most popular cryptocurrencies of the moment and is ranked 97me place of the most capitalized cryptocurrencies in CoinMarketCap. The token is up 14.68% over 24 hours and is trading at $2.77 at the time of writing.
During this time, classic landthe name of the old project, it still has a high capitalization, almost $2 billion, but its price is still very low, at $0.00031 at the moment.
Reducing the number to zero after the decimal seems to be the most realistic medium-term goal, although several analysts see that Terra Classic will soon outperform the dollar and trade above $2 in 2023.
💎 Receive your free Crypto Watch
🔥 Receive as a Bonus your Free Guide “Find the Nuggets of the future”: Learn to analyze cryptos like a professional, avoiding Red Flags and Scams, to start or continue your Adventure in the world of cryptocurrencies.