Terra Luna Classic (LUNC) on a Downward Slope Prior to Do Kwon’s Interview — DailyCoin

DailyCoin
3 min readOct 17, 2022

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The notorious founder of the befallen TerraForm Labs, Do Kwon, is still on the run from South Korean authorities with Interpol’s Red Notice in the cards. In addition, the troubled creator of Terra (LUNA) is to be featured on Unchained Podcast, as Kwon accepted the invitation from crypto journalist Laura Shin. A gripping trailer of the interview has already surfaced on Twitter, causing puzzled reactions from the crypto community.

LUNC Community Making Noise on Twitter

Despite trending hashtags like #LUNCcommunity & #LUNCpenguins trending on Twitter, Terra Luna Classic (LUNC) seems to have lost it once again. The #34 crypto by total market cap, Terra Luna Classic (LUNC), recorded consecutive weeks of double digits in the red.

At press time, Terra Luna Classic (LUNC) trades at $0.00026, according to CoinGecko. The scandalous cryptocurrency that went to pieces with the horrifying stablecoin Terra (UST) de-pegging incident is down 14.3% in the last 7 days and 21.3% in the fortnight.

However, Binance recently showed support to the embattled community by setting $2,500,382,131 of tokens ablaze in a single burning event. On top of that, crypto enthusiasts on Twitter are pushing Coinbase to re-list both Terra (LUNA) & Terra Luna Classic (LUNC).

Do Kwon Ordered to Hand Over His Passport

Previously, the South Korean issued an order for Do Kwon to surrender his passport, or it would expire in two weeks. Interestingly, the date expires on Wednesday, a day after the interview with Laura Shin. Besides, the South Korean authorities have revealed that Do Kwon has fled his home in Singapore and refuses to engage in “meaningful communication.”

As if that wasn’t enough, crypto insiders like FatManTerra claim that Do Kwon keeps on cashing out from shadow accounts, including $67 million from KuCoin & OKX. While Kwon denies being on the run, he still jokes around on Twitter and doesn’t get “the motivation behind spreading this falsehood,” as if he had never noticed Interpol’s Red Notice.

On the Flipside

  • The Terra (LUNA) & Terra (UST) fiasco caused over $60 billion worth of damage to the crypto industry.
  • The upgraded burning mechanism doesn’t reflect on Terra Luna Classic’s (LUNC) market price.
  • One of the other five wanted TerraForm Labs insiders has been caught, with five search warrants to go.

Why You Should Care

The Terra (LUNA) washout sent $60 billion down the drain, destroying previously successful crypto hedge funds like Celsius & Three Arrows Capital (3AC).

Find out more about Terra Luna, the most gripping crypto massacre story of 2022:

Do Kwon of Terra (LUNA) Denies Cashing Out $64M in Bitcoin (BTC)

Do Kwon Flees Singapore, Denies Being on the Run as Terra (LUNA) Sinks

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