Arrest Warrant for Do Kwon – Luna’s Second Death (LUNC)

Luna to zero? – Last June, the entire ecosystem Terra Luna sank following the depeg of its stablecoin UST. However, since the beginning of September the price of Luna Classic (LUC) has increased by 188%.

A few months after the collapse of the Terra Luna ecosystem, the Luna Classic Token (LUC) has found a new buzz. So the token is changed from $0.000096 to $0.00058. However, this increase was only short-lived.

Indeed, this morning a South Korean media announced the creation of a arrest warrant for Do Kwon the co-founder of Terra Labs. This is accompanied by two additional mandates against Nicholas Platias and Han Mo.

Unsurprisingly, the LUNC share price reacted directly to this news by registering a new fall since the publication of the arrest warrant.

Fall of LUNC following the publication of the arrest warrant against Do Kwon – Source: Coingecko.

Momentary decline or lasting trend, no one knows. Either way, the downfall of Terra Luna is the result of disastrous management on the part of Terra Labs. In effect, strong suspicions of embezzlement hang over Terra Labs.

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