Interpol Issues Red Notice on Do Kwon

The Crypto Market continues to struggle to bounce back to previous year highs since the May collapse of Terra (Luna) Network which saw the company lose $US40 Billion of investors money and their constant dumping of Bitcoin brought down the entire network.

This is becoming more and more apparent with investigations confirming Terra Form Labs caused the current predicament of the market. Since May Bitcoin has struggled to regain it's previous highs being stuck at the $US20 Thousand dollar mark and recent interest rate hikes and inflation is seeing more and more pressure on the Crypto Market as well as the broader S&P 500.

LUNAtics get their pitch forks out

For those in the know LUNAtics was the name given to hype investors of TerraForm Labs Luna token. A once mighty strong community that helped drive the value and success of the token abroad have since begun to turn on the company and it's founds with multiple class actions launched against the company and Do Kwon himself.

We can't help but think how Kwon must be feeling right now knowing he is the most hated man on the planet and those feelings must be staying with him as those who have been around for a bit will remember he named his first born daughter Luna and even promised to call his son Stable . Clearly the software engineer got too a head of himself and his product.

Do Kwon referred to Interpol

The once high profile Crypto celebrity is currently one of the most wanted men on the planet with South Korean prosecutors seeking the help of interpol to find Kwon despite the head of TerraForm Labs denying he is on the run no one is able to find him.

In a series of Tweets Do Kwon has hit back at allegations of him on the run and claiming he is in the process of defending himself in multiple jurisdictions and is communicating and working with Government Agencies when they touch base.

How much of this is true is unknown as a referral to Interpol and an extradition notice being made is serious business. the other item is I believe Singapore may still have the death penalty so matters like this may see Do Kwon in a significant life threatening position. But that is probably already the case with many investors already threatening violence.

It is unknown if Do Kwon will face chargers but the class action states that Luna was a security operating in an unregistered capacity and as a result breached Government financial regulations.

What are your thoughts on the Luna Collapse and what the future holds for TerraForm Labs and their founder Do Kwon? will he be behind bars or will he get away with what has occurred because of the decentralised nature and unregulated Crypto industry?

Images sourced from canva pro subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.

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