Terra Classic (LUNC) Price Drops As Interpol Issues Red Notice Against Do Kwon

Published by
Elena R

It appears that the Terraform Labs founder, do kwon investigation regarding terra (LUNA) collapse is going to be dragged for longer days with new twists every other day.

The latest statement by South Korean officials claims that Interpol has issued a Red Notice against Do Kwon after it was confirmed that he has left Singapore. Interpol is an abbreviation for International Criminal Police Organization and the Red Notice is nothing but law enforcement placed against an individual to arrest him due to his prolonged surrender, extradition, or any such legal action. This kind of notice is applicable worldwide.

After the release of this statement, Terra’s new chain Terra Classic (LUNC), and the original chain Terra (LUNA) declined by more than 14% and 8% respectively in the last 24hrs.

This statement by the country’s Seoul Southern District Prosecutors’ Office was issued in the early hours today. Additionally, 195 countries have been notified by Interpol to expel Do Kwon to South Korean officials.

Do Kwon Escape Singapore

Recently on September 19, the South Korean officials appealed to Interpol to pass a Red Notice against Do Kwon. Moreover, just two weeks before, the country’s officials had also issued an arrest warrant against Do Kwon and five others. Also, there was an order to invalidate their passport along with posing a travel ban for all other employees of Terra.

On the other hand, South Korean Officials have also begun their investigation to know if Terra Classic (LUNC) and other Terra-related tokens are securities.

It is to be noted that after there was an arrest warrant against Do Kwon, he claimed that he is not trying to escape and is co-operating with the officials. However, this statement was rejected and the officials asserted that from the time the Terra (LUNA) collapsed in May, the founder is trying to escape.

At the time of writing, Terra (LUNA) has dropped by 8.7% over the last 24hrs and is trading at $2.30. Meanwhile Terra Classic (LUNC) is selling at $0.0002024 with a fall of 14.33% in the last 24hrs.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

Bitcoin Is Approaching $17000, While the Possibility of AltSeason Looms Over the Space

The report of BlockFi filing for bankruptcy was believed to erupt an acute bearish trend…

November 30, 2022

Tora Inu Is The Ideal Place To Start If You Have Never Invested In Meme Tokens

With Shiba Inu’s 50,000,000% price increase in the last year acting as a reminder of…

November 30, 2022

KuCoin (KCS) And Fantom (FTM) Leave Holders Disappointed, Orbeon Protocol (ORBN) Prices Up During Presale

Among cryptocurrencies, there are a few that dominate the market. KuCoin (KCS) and Fantom (FTM)…

November 30, 2022

Not $1 Million, Here’s A More Realistic Bitcoin Price Prediction

The speculative nature of Bitcoin price has brought up weird predictions per the crypto market…

November 30, 2022

FTX Holders Likely to Get 100% Money Back! Fact Or Rumor?

Recently, a transcript of Tiffany Fong's phone conversation with SBF surfaced. According to reports, the…

November 30, 2022

This is When Ethereum’s Price May Surge More Than 25% to Hit $1650!

The global crypto market capitalization has surged beyond $850 billion yet again after the markets…

November 30, 2022