Police Report Filed Against Do Kwon Amid LUNA Crisis

Police Report Filed Against Do Kwon Amid LUNA Crisis
  • A Reddit user disclosed that a police report has been filed on behalf of 1,000 Singaporeans against Terra’s Do Kwon.
  • Kwon expressed being in pain that his invention has caused.
  • Reactions from Reddit users stated that nothing is going to happen with the police report.

A concerned citizen from Singapore filed a police report with the authorities against Terraform Labs CEO Do Kwon.

According to a user from social media platform reddit, the police report against Kwon was filed on behalf of LUNA and UST investors who have lost money during the de-pegging and LUNA price inflation period.

The anonymous citizen wanted to seek justice for all those who have lost money in what he called ‘Luna Cryptocurrency scam’. He added that “there are at least more than 1000 Singaporeans that I know that invested in UST and Luna.”

He said that UST will remain pegged at $1 but it dropped to $0.1 because the ponzi scam collapsed. Moreoer,He pointed out that LUNA became worthless overnight, losing a total of $32 billion.

According to the police report, Kwon is a “serial scammer, making Billions off hard-earned sweat money of gullible investors.”

The complainant disclosed that Terra’s CEO should:

“Refund investors the money he earned of Luna. Do Kwon is currently living in Singapore so there is a chance that Singapore can still freeze his assets before he flees overseas.” 

Earlier, Kwon had expressed being heartbroken in a tweet about the pain his creation has brought to investors. He also disclosed that he did not sell his LUNA and UST holdings while the crisis was going on. 

Most of the responses from Reddit users expected nothing good will come out of this police report. Furthermore, a user named “kyuno” said: “dealing with crypto is high risk. the police won’t get your money neither will they do anything to Do Kwon.”

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.