Angry investors, who suffered heavy losses after TerraUSD’s abrupt peg cancellation, are wondering where Terraform Labs CEO Do Kwon is and calling for his arrest.
As you know, the Terra cryptocurrency ecosystem plunged into chaos this week when its TerraUSD (UST) algorithm-stablecoin broke away from the U.S. dollar. This, in turn, led to a drop in the price of the stablecoin and its associated token Luna.
Kwon, who is usually active on Twitter, stopped posting on Wednesday. His last post was one in which he assured investors that Terra was going nowhere and that its rise into form would be “exciting to watch.”
In the U.S., Kwon was removed from speaking at a conference in Florida on “Stablecoins! CryptoKiller App,” so again, crypto-enthusiasts won’t be able to get answers to their questions.
Kwon’s last known location was Singapore, where Terraform Labs and Luna Foundation Guard are headquartered. He reportedly did not appear there for several days.
Kwon’s family is currently in his native South Korea. Last month, his wife gave birth to their first child, a daughter named Luna, who was named after her father’s “greatest invention.”
On Friday, South Korea’s Money Today news agency reported that his wife had called the police for help because an unknown man had broken into their apartment complex in Seoul. He knocked on their door and demanded to know if Kwon was home, apparently to break into the house.