Enraged Terra Luna investor trespasses on Do Kwon's house; lost $2.3 million in crash 

Do Kwon, the founder of Terraform Labs whose Terra Luna and TerraUSD tokens crashed recently, is under heat from investors and recently one such enraged investor trespassed on his residence.

Local media reports confirmed, an enraged investor, who lost $2.3 million amid the crash, broke into Kwon’s house in Seongsu-dong, a neighborhood in South Korea in Seoul.

The local media also reported that the alleged trespasser was questioned by Seoul police on Monday as part of an investigation.

The trespasser also spoke to the local media reporters following the Seongdong police station investigation. He demanded Kwon accept full responsibility for the crash and also demanded that Kwon be held accountable for the deaths of many people who committed suicide in the wake of the crash.

The Terra Luna Crash 

Cryptocurrency, Terra Luna, the volatile crypto by Terraform Labs crashed amid the TerraUSD, the stablecoin by Terraform Labs, de-pegging fiasco.

The cryptocurrency wiped out 100 per cent from its all-time high of $119 in April and cost investors, both retail and institutional, losses of over billions of dollars.

Terra Luna Recovery Plan 

Do Kwon admitted in a blog post that the Terra ecosystem had failed. Kwon went on to say that Terra's community must reconstruct the network, and validators must reset to one billion tokens.

Kwon also proposed a new inflation rate of 7 percent and introduced a new tokenomics.

Regulatory Scrutiny 

The recent Terra Luna crisis has heightened regulatory attention towards stablecoins, with governments and regulatory bodies all over the world discussing stablecoin regulation.

South Korea, The United States Fed, and the United Kingdom have taken the lead in this matter, as previously reported by Business Today.

Also Read: Terra blockchain halted again as crypto TANKS 99.99%  
Also Read: Cryptocurrency markets crash: Terra Luna down 99.99%, will it wipeout?