After LUNA Coin Drops 20%…Terra Founder Takes Care and Adjusts His Twitter Account
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Answer After LUNA Coin Drops 20%…Terra Founder Takes Care and Adjusts His Twitter Account
It is well known that the crypto community is one of the most active and uses funny pictures and memes.
Earlier, after the founder of Terra described the LUNA project as changing the game of decentralized finance, it did not change it but collapsed horribly.
Recently, many social media accounts reported that the Terra founder modified his Twitter account, which some interpreted that the Terra founder has finally begun to weaken and be affected by the crypto community.
The renamed LUNA has lost more than 77% of its value since its inception.
Residual investor confidence is also evaporating rapidly.
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In the past 24 hours alone, the Luna currency price has lost 20%, and thus, the tension has been palpable.
In the midst of all this, Terra CEO and Founder Do Kwon has modified his Twitter account and made it private, allowing only followers to access his tweets.
The reason for this move is not clear, but the great harassment the founder has been subjected to over the past two weeks could have prompted him to go into privacy.
Legal troubles continued around Terraform, with many speculating that Kwon could face jail time after struggling with cryptocurrency LUNA last month.
It was also reported that the South Korean police revealed an investigation of an employee of “Terraform Labs” for embezzlement of company funds.
Seoul police received information regarding the suspect’s alleged fraud, after which they launched a thorough investigation.
The authorities asked the trading platforms to freeze the accounts of this employee.
This development comes a month after the first cracks appeared in the now worthless TerraUSD (UST) territory.
Currently only time will tell whether Terra Luna 2.0 will avoid the fate of its predecessor, but with “Kwon” in hiding, the chances of a boom and a revival of the project seem rather remote.
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