LUNC has been making a lot of headlines recently, as it stunned crypto with its sudden popularity. While Do Kwon seemed absent from operations, his involvement would be confirmed.
Towards a discreet return of the designer?
Terra Classic (LUNC) has stood out over the past few weeks thanks to its rise in price. The token, which the crypto sector believed was scrapped following the disappearance of USTerra, would justify its return by a significant mobilization of the Terra community. Driven by the burn tax which, according to its holders, would drive up the price of the token, the LUNC seems to have attracted a lot of investors. However, once the burn device was put in place, the exchanges that had promised to support the project ended up changing their minds.
In the midst of all these events, some of the investors started to question Do Kwon’s involvement in LUNC’s comeback. He had indeed returned from his community shortly after the rise of his token. Following this, several of its members had affirmed that the entrepreneur had never intervened in the phenomenon.
Words quickly reversed by the rest of the community. For them, the resurrection of the Terra Classic would be the result of true teamwork between investors, developers and Do Kwon. The founder of Terra would therefore have effectively intervened discreetly as an adviser. He would also have regularly given his approval during the various stages of the operations.
Do Kwon’s escapades could influence prices
The community does not welcome the confirmation of Do Kwon’s participation. Many Internet users have already cried out about price manipulation, arguing that the token would soon fall to zero. The LUNC curve was already on the downward slope after the implementation of the burn tax. This was no doubt due to the discouragement of investors seeing that it would not be fully applied. Thus, the sudden arrival of Do Kwon could crown the phenomenon.
As for the escapades of the entrepreneur, they could make the token plunge further. Korean justice recently issued an arrest warrant against Do Kwon, although he was located in Singapore and is therefore untouchable. Interpol would have been asked to bring him back to South Korea for trial. According to South Korean media Munhwa Ilbo, the Ministry of Foreign Affairs would also have been asked to revoke the passport of the founder of Terra. Now without papers, he would have to go to his country of origin.
However, according to Watcher Guru, South Korea would not be among the countries with which Singapore would have signed an extradition treaty. Do Kwon could therefore surrender to the authorities or go into hiding again until his country of origin finds a diplomatic solution.
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LUNC: Do Kwon’s involvement in the token’s resurrection would be confirmed – BeinCrypto International
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