Investor Tries to Confront Do Kwon, Gets Arrested by Police

On Monday, an investor who lost millions in the Luna crash was arrested for trying to confront Do Kwon, the founder of the Terra system. The popular YouTuber, known by the name Chancers, reportedly lost $2.4 million of his crypto savings.

Chancers had begun investing in crypto around five years ago, and in this short period garnered immense wealth. The 30-year-old was among the wealthy 1% of South Korea until the LUNA crash. “I felt like I was going to die,” the crypto streamer said. “I lost a lot of money in a short period of time. Around $2.4m of my cryptocurrency was wiped out.”

One of his primary concerns is that Do Kwon did not update any of his many Twitter followers and remains more or less silent on the issue. Chancers claims that this is why he decided to confront the entrepreneur directly.

I wanted to ask him about his plans for Luna. I suffered a huge loss and wanted to talk to him directly.

Chancer also documented the journey to Do Kwon’s house online, streaming every step of the way. However, it was Do Kwon’s wife who answered the door. Shortly after, the crypto influencer was arrested for trespassing.

“I didn’t trespass on Do Kwon’s property, but according to Korean law, it’s illegal to just go there and try to talk. I didn’t know,” Chancers told BBC. However, he also added that cryptocurrency founders weren’t being held accountable for their actions and that the Terra ecosystem was a scam. Interestingly, Chancers is not the only one with this view. Much of the crypto world suspects that Kwon had something to do with LUNA’s crash.

Meanwhile, Do Kwon has proposed a plan to hard fork the Terra network, and voting for the hard fork is underway. Despite the damage control, the fate of the Terra ecosystem is unknown and uncertain. As for Chancers, beyond his losses, he will now have to face a fine and a criminal record.