LUNA Investor Confession: It Was Like I Was Going To Die, I Lost A Lot Of Money In A Short Time

JAKARTA – One of Terra's investors (LUNA) visited the home of the founder of Terraform Labs, Do Kwon. He intends to seek answers from Do Kwon on the falling prices of LUNA and TerraUSD (UST). The investor is known as Chancer on social media because he often discusses cryptocurrencies.

Chancer claimed to have lost 3 billion won (approximately IDR 34 billion) in LUNA and stablecoin UST. To BBC News, Chancer recounted his condition.

“I felt like I was going to die. I lost a lot of money in a short time. About $2.4 million of my cryptocurrency is gone," Chancer said.

Furthermore, he admitted that he was angry that Do Kwon did not communicate much with the LUNA community after the collapse of LUNA and UST. Chancer doesn't stay silent, he searches the internet for Do Kwon's house. Kwon's residence is located in the city of Seoul.

Chancer stated his intention and purpose of coming to Kwon's house. “I wanted to ask him about his plans for LUNA,” Chancer said. He was compelled to meet Kwon because he had suffered a huge loss.

"I suffered a huge loss and wanted to speak to him in person," Chancer admitted.

The loss-making LUNA investor knocked on Do Kwon's door and rang the doorbell on May 12, 2022. Chancer broadcast his actions on his online channel and was watched by about 100 people.

After the doorbell of Kwon's condo rang, Kwon's wife opened the door and explained that her husband was not at home. Not long after the arrival of the LUNA investors, Kwon's wife called the police for protection. When the police arrived, Chancer had already left the Kwon residence.

The search continued until the police finally arrested Chancer the next day. Chancer turned himself in to the Seongdong, Seoul, police station on May 13.

“I turned myself in to the police station twice. I didn't trespass on Do Kwon's property, but according to Korean law, it's illegal to go there and try to talk. I don't know," Chancer said.

Chancer says he doesn't want to face fines and a criminal record that complicates his life.

“This is very difficult. I lost a lot of money and now I am being investigated by the police. I originally served as a civil servant in Korea. But if I am convicted of this case, I may not be able to return to being a civil servant again,” said the LUNA investor.

“In Korean culture, the issue itself is not important, but rather the fact that it causes a scandal,” he explained. “I even have to apologize publicly as a sinner. I didn't know it would be so big. This is very sad."

It fell down the stairs. The police sent the case to the prosecutor's office and asked the court to indict Chancer.

On the other hand, Do Kwon admitted that he had been in Singapore since December last year. He dissolved Terraform Labs Korea and closed the Korean company office just days before LUNA and UST collapsed.

South Korean authorities have launched an emergency investigation into the explosion of the two coins. This week, Korean police asked crypto exchanges to freeze Luna Foundation Guard assets, as reported by Bitcoin.com News.