Bankrupt Investor Tries To Enter Crypto Founder’s House, Gets Arrested

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A guy who claims to have lost about $2.4 million due to the cryptocurrency Luna’s fall has been questioned by South Korean authorities after reportedly trespassing into the cryptocurrency’s founder’s apartment last week.

Do Kwon, the chief executive officer of Singapore-based Terraform Labs, is said to have contacted authorities following the terrifying break-in.

On Thursday, the suspect, a South Korean crypto streamer known as Chancers, is accused of breaking into Kwon’s apartment building in eastern Seoul. He rang Kwon’s doorbell, which his wife answered. According to reports, the man asked if her husband was home before leaving.

Despite becoming a member of South Korea’s “top 1%” through crypto, Chancers said the big crash that followed Terra stablecoin’s unprecedented loss in value earlier this month had left him penniless.

Kwon is currently in hot water due to the Luna meltdown, which has caused the stock to trade at nearly zero. Only a month ago, the cryptocurrency reached a high of $119.

“I lost a lot of money in a short period of time. Around $2.4m of my cryptocurrency was wiped out,” Chancers told reporters after being taken to Seongdong Police Station. He is currently facing a trespassing charge.

The outraged investor, who reportedly runs an online broadcasting channel, claims he only went to Kwon’s house to discuss and served with a legal charge instead.

“I didn’t trespass on Do Kwon’s property,” Chancers said, “but according to Korean law, it’s illegal to go there and try to talk. I didn’t know.”

Furthermore, Chancers claimed that Luna’s demise prompted numerous people to commit suicide. He wants Kwon to accept responsibility and apologise to over 200,000 investors who suffered losses.

Kwon’s wife was forced to seek emergency protection due to the alleged trespassing, whereas Kwon has devised a plan to keep his company afloat.

Meanwhile, Chancers have lost faith in cryptocurrency and consider it a “scam.”

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