Claim BonusTerra (LUNA) Price Tumbled 8%, Terra Classic (LUNC) 4% After Do Kwon Arrest
Terra (LUNA) price tumbled 8% after reports on Terra co-founder Do Kwon’s arrest reached the Terra community. Surprisingly, Terra Classic (LUNC) price also fell steeply by 4% despite Do Kwon and the community separating after the Terra-LUNA crisis.
CoinGape reported that Terra co-founder Do Kwon, who was on the run since the Terra-Luna crisis was finally arrested on Thursday in Podgorica, Montenegro. According to a statement by the Interior Minister of Montenegro, Do Kwon was detained at the Podgorica airport, probably trying to change the country once again.
South Korean prosecutors issues an arrest warrant against Do Kwon last year and also took Interpol’s help to arrest him. South Korean prosecutors even visited Serbia in February in the hope to find Do Kwon after it was reported that Do Kwon might be hiding out in Serbia. He has relocated many times from Singapore to Montenegro.
In February, U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Terraform Labs and its co-founder Do Kwon for the $60 billion securities fraud involving LUNA and Terra’s algorithmic stablecoin TerraUSD (UST). Moreover, Do Kwon and his company secretly processed over 10,000 BTC out of the company and converted some tokens into cash via a Swiss bank.
Do Kwon Still Has Influence on Terra LUNA Classic
Terra (LUNA) and Terra Classic (LUNC) prices witnessed a sudden fall after the Securities and Exchange Commission (SEC) filed a lawsuit against Do Kwon, Terraform Labs, and affiliates. It indicates that Do Kwon still has influence over LUNA, as well as LUNC.
Terra (LUNA) price fell to $1.27, down 8% in the last 24 hours. The 24-hour low and high are $1.275 and $1.432, respectively. Meanwhile, Terra Classic (LUNC) plunges 4% in the last 24 hours, with the price currently trading at $0.000123. The 24-hour low and high for LUNC price are $0.0001212 and $0.0001287.
Also Read: SEC Chair Gary Gensler To Appear Before US House Committee
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- White House Pushes for Crypto Bill Deal Amid Claims of Potential Support Withdrawal
- XRP Risks Deeper Fall as Spot XRP ETFs Record Largest-Ever Outflow
- Galaxy Digital Raises $100M to Launch Crypto Hedge Fund
- Crypto Crash Deepens as Tom Lee Warns of “Painful Decline” in 2026 Before Late-Year Bounce
- Best Crypto Prop Trading Firms in January 2026
- Is Pi Network Price Going Through a Tough January?
- Chainlink Price Prediction After 24/5 Stock Data Launch: What’s Next For LINK?
- XRP Price Eyes a 25% Rebound Ahead of Brad Garlinghouse Statements at Davos Summit
- Why Silver and Gold Prices Are Rising While Crypto Falls Under Tariff Pressure?
- Solana Price Prediction As NYSE Launched Stock Tokenization Platform
- Bitcoin Price Outlook Ahead of Trump’s Davos Speech as Trade War Tensions Ease
