Luna, once the fourth largest cryptocurrency in the world, lost 100% of its value on Friday. After the collapse of Luna, a possible investor in the coin trespassed on the house of Do Kon – Founder & CEO at Terraform Labs, as reported by The Chosun Ilbo. Crypto News said that the investor lost about $1.56 million in the Luna crash, but this information is yet to be verified.
According to Chosun, around 6:23 p.m. local time Thursday night, an unnamed man rang the doorbell to Do Kwon’s apartment and the CEO’s wife answered the door. The man is said to have asked something like, “Is your husband at home?” and then ran away.
Luna was worth more than $50 when it was the fourth most popular crypto in the world, but dropped below $0.01 on Thursday. The coin has been delisted on major exchanges like Binance and the operation of its blockchain have been halted, making Luna worthless as of Friday.
The suspect faces a charge of trespassing because he allegedly entered the apartment complex by getting through a gap in the building’s common door. CCTV footage from the incident and the surrounding area is being reviewed.
South Korean police could not confirm the suspect was a Luna investor, but according to Crypto News, this man said as much during livestreams on social media platform afreecaTV. Whoever this man is, he’s clearly not the only one upset with Do Kwon and the entire Luna community right now. When TerraUSD depegged from the dollar over the weekend, it put Luna in jeopardy on Tuesday and Wednesday. Following that crash, many other cryptocurrencies also plunged in value over the past week. Millions of dollars evaporated within a few days.
Surprisingly, there are still people who believe that Luna can make a comeback even though this seems impossible. Apart from Luna, much of the crypto market has made a surprise rebound overnight, with bitcoin now up 8.3%, ether up 8.1%, and XRP (Ripple) up 18.4% in the past 24 hours.
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