Terra's LUNA Tokens Fall Steeply on Do Kwon's Alleged Arrest
Kwon was reportedly arrested in Montenegro earlier on Thursday.
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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