Terra's LUNA Tokens Fall Steeply on Do Kwon's Alleged Arrest

Kwon was reportedly arrested in Montenegro earlier on Thursday.

AccessTimeIconMar 23, 2023 at 1:37 p.m. UTC
Updated May 9, 2023 at 4:11 a.m. UTC
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Terra blockchain's native luna tokens fell 8% amid reports of founder Do Kwon allegedly getting arrested in Montenegro, according to a tweet by Filip Adzic, the country's minister of interior.

Adzic's tweet said the person was suspected to be Do Kwon and the government is trying to confirm the identity.

Traders reacted immediately to the reports. LUNA fell 10 cents from $1.40 at writing time on Thursday. Luna Classic tokens dropped just 3.7%, according to data from CoinGecko.


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Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

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