Do Kwon Terra South Korea county Luna city Seoul Stablecoin Altcoins Do Kwon Terra South Korea county Luna city Seoul

Terra's Do Kwon Liquidated the South Korean Arm of Terraform Before LUNA & UST Crisis

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New reports fuelled speculations that Do Kwon (real name Kwon Do-hyeong) may have been aware of a storm brewing for the terra (LUNA) platform – and that the Terraform Labs mastermind may have taken action to dissolve domestic parts of his company as early as last month in anticipation.As reported, the token spiraled close to zero last week and the terraUSD (UST) stablecoin lost its peg, leading to one angry investor breaking into Kwon’s apartment complex to demand that his wife reveal his whereabouts.Kwon has since responded with a “revival plan” involving a network hard fork and an ownership reset for 1 billion tokens.

That plan was met with scorn by the likes of the Binance CEO Changpeng Zhao (CZ), who claimed that the new fork would be devoid of “value” and labeling Kwon’s reasoning “wishful thinking.”However, Kwon may have bigger fires than this to fight.

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