Man Who Lost Millions to Terra Crash Has Been Arrested After Visiting Do Kwon at his Home.

In the early hours of yesterday, Chancers who was 1% part of South Korea's wealthiest man but ran into financial jeopardy because of the dramatic depeg of the UST stable coin and the unpredicted crash of Luna was arrested.

Before his arrest, "Chancers" already used his social media to tweet about his death wish, stating that he felt like dying after his $2.4 million crypto investment was gone.

The 30-year-old made his decision to visit Do Kwon after he failed to update his followers on Twitter, which created silence on UST and LUNA amid the freefall, but later came up with a plan when it was late.

Chancers live-streamed his journey to Do Kwon’s house to about 100 people adding that he is going to ask him about his plans for UST and LUNA. “I have suffered a huge loss so for that, I want to talk to him directly”.

The journey added when Chancers reached his home but it was Kwon’s wife that answered the door. The police soon came and Chancers was arrested. It is now believed that Chancers isn’t only in financial jeopardy but also facing legal charges too.

According to Korean law, it is illegal to approach a stranger or trespass on someone’s property without invitation. Now, Chancers is going to be fined, as well as having faced a criminal record. This could be a detriment for him in returning to the civil service and living a normal life.

Update on Luna
Looking at the recent updates from Do Kwon’s Twitter page, it is believed that he is focused on building a new Terra blockchain, the algorithm of the stablecoin that contributed to the downfall of LUNA has been abandoned and new measures have been adopted. After the rebrand, The old blockchain would be named Terra Classic, having the former token as Luna Classic.

A vote proposal was recently created about obtaining a new LUNA token. The vote is yet to be wrapped up, but for now, about 66.33% of the votes are positive about creating a new LUNA coin while 0.36% voted against that. If the new LUNA token is successively created, there will be an airdrop to all those who were investors in the old coin.

In the middle of Kwon looking for a solution, there have been many obstacles coming here and there, Kwan was recently being ordered to pay $78 million in taxes by the Korean Government. But the company executives stated that the organization has no outstanding tax liabilities. According to KBS News, Crypto Exchanges like Binance and others have been directed to freeze any asset that belongs to Luna Foundation Guard so that it cannot be withdrawn. Local media has also reported that the organization that was responsible for accumulating Bitcoin funds meant to help defend the UST peg has also been asked to freeze the assets accumulated.