Emotions are running high as a result of the Terra (LUNA) debacle, which is of course not surprising given the amount of money that was lost. A Singaporean has therefore recently filed a complaint against Do Kwon, the founder of Terra. He reportedly did this on behalf of 1,000 other Singaporeans.

Founder LUNA in shackles?

The news that a complaint has been filed in Singapore came out via Reddit. The statement reads that the person is “worried about residents who have lost money in the Luna Cryptocurrency Scam.” He wants justice for the estimated 1,000 Singaporeans who have invested in LUNA and UST.

The report then goes on to say that Kwon is “still a billionaire” and that “accommodating investors” is the least he could do. Since the founder lives in Singapore, according to the person, the government should therefore freeze the assets of the LUNA founder.

LUNA lawsuits

It is currently unclear whether the Singapore police will take up the complaint. However, it is not illogical that LUNA investors are currently investigating what their rights and options are. For example, some evidence is already being collected on crypto Twitter. Timothy Peterson, an investment manager, tweeted yesterday:

“A lawyer’s wet dream of an admission of liability. Let the lawsuits begin!”

Unfortunately, some in the crypto community are taking the law into their own hands. A few days ago, it was revealed that Do Kwon’s wife is now receiving police protection in South Korea. A person is said to have entered the couple’s apartment complex and then knocked on the door of Kwon’s house. Kwon would regularly travel between Singapore and South Korea.

It remains to be seen how this situation will develop further. Of course, in recent years we had things like BitConnect, whose founders have actually been sued. However, Terra is not an obvious poniz fraud.

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