As angry investors face heavy losses following TerraUSD’s dramatic unpeg this week, users on the Terra Research Forum and Reddit are now ask or CEO of Terraform Labs Do Kwon is and even asking for his arrest.
The Terra crypto ecosystem was thrown into chaos this week when its algorithmic stablecoin TerraUSD (UST) broke sharply from the US dollar. The crisis saw the price of UST and its associated Luna token crash, resulting in billions of dollars in losses for investors.
Normally a prolific Twitter user, Kwon hasn’t posted on the social network since Wednesday. His last personal message was a thread reassuring investors that Terra was “here to stay” and that his return to form would be “a sight to behold”. Updates continue to stream from the company’s official account.
Kwon did not respond to requests for comment from The Block sent to Terraform Labs via email.
In the United States, unauthorized participants who hoped to get answers from Kwon in person at the conference in Florida next week have also been disappointed. Originally scheduled as a speaker on the “Stablecoins! Crypto’s Killer App”, Kwon was removed from the list of speakers on the event website.
Kwon’s last known location was Singapore, where Terraform Labs and the Luna Foundation Guard are headquartered. That said, it’s unconfirmed and he hasn’t been publicly spotted in days.
Kwon’s family is however currently in his native South Korea. Last month, his wife gave birth to their first child, a daughter named Luna, whom he mentioned was named after his “greatest invention”.
On Friday, the South Korean media Money Today reported his wife requests emergency police protection after a man was able to enter their apartment complex in Seoul’s Seongdong district. According to the report, the intruder knocked on their door Thursday night and demanded to know if Kwon was at home before fleeing.
For more stories like this, be sure to follow The Block on Twitter.
© 2022 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended for use as legal, tax, investment, financial or other advice.