Investor who lost $2.3 million terrifies crypto founder’s home in alleged trespassing

Investor who lost $2.3 million terrifies crypto founder’s home in alleged trespassing
Carl Samson
May 17, 2022
A man who claims to have lost up to 3 billion won (approximately $2.37 million) following the collapse of the cryptocurrency Luna has been questioned by South Korean police after allegedly trespassing into the apartment building of the cryptocurrency’s founder last week.
Do Kwon, who is currently the chief executive officer of Singapore-based Terraform Labs, has reportedly been in touch with authorities after the alleged break-in.
The suspect, whose identity has yet to be publicly revealed, was accused of entering Kwon’s apartment building in eastern Seoul at around 6:20 p.m. on Thursday. He then rang Kwon’s doorbell, which his wife answered.
The man asked if her husband was home before running off, according to reports.
Kwon is currently in hot water following the crash of Luna, which now trades at almost zero. Just a month ago, the cryptocurrency peaked at $119.
“I have lost about 2 to 3 billion won [approximately $1.58 to $2.37 million],” the suspect told reporters after being taken to Seongdong Police Station. He is currently facing a trespassing charge.
The enraged investor, who reportedly runs an online broadcasting channel, said that Luna’s collapse led several people to kill themselves. He wants Kwon to take responsibility by apologizing to the more than 200,000 investors who lost their money.
The alleged trespassing compelled Kwon’s wife to seek emergency protection. Meanwhile, Kwon has created a proposal to help his company stay afloat.
Featured Image via Terra / CNBC
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