By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: LUNC Adds Over 50% In 24H After Interpol’s Red Notice
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > LUNC Adds Over 50% In 24H After Interpol’s Red Notice
crypto

LUNC Adds Over 50% In 24H After Interpol’s Red Notice

admin Published September 27, 2022
Last updated: 2022/09/27 at 5:08 AM
Share
SHARE

[ad_1]

Early hours of Monday, September 26, Interpol issued a Red Notice against the founder of Luna Classic, DO Kwon. This issuance resulted from Do Kwon losing more than $60 billion in investors’ wealth. 

Contents
Earlier Developments Leading To Kwon’s Red Notice Terra Classic Price Crash And ReversalWhat Is The Future Of LUNC

The prosecutors in South Korea explained that Kwon is facing charges for the erosion of investors’ money. In addition to his charges, Do Kwon stands accused of violating the ‘Capital Markets Law,’ with multiple breaches cited. 

Related Reading: Bitcoin Shows Resilience In Dollar-Driven Bloodbath | BTCUSD September 26, 2022

This issue has created conversations in the crypto market regarding the future of Terra firm and the algorithmic stablecoins. This article details events surrounding Do Kwon and how he made it into Interpol’s most wanted List. 

Earlier Developments Leading To Kwon’s Red Notice 

Earlier this year, the Terra ecosystem collapsed, unheard of in an evolving Defi space. The crash hurt the crypto market, with other financial markets feeling its effects. Crypto Analysts believe that investors lost over $45 billion in wealth. 

After the crash, he relocated Terra Headquarters from South Korea to Singapore due to being under investigation for tax evasion charges in South Korea. In an interview, the Terra founder said he would cooperate with investigative agencies in the Terra crash and has nothing to hide. Further, Do Kwon acclaimed that he is a man with an “extremely high bar of integrity.”

However, South Korean prosecutors explicitly refute Do Kwon’s statement claiming he was not cooperating and was obviously on the run. As a result, Interpol has issued a Red Notice on the Terra founder in over 196 countries.

LUNC’s price is currently hovering around $0.00031. | Source: LUNCUSD price chart from TradingView.com

Terra Classic Price Crash And Reversal

Following the news of Interpol’s Red Notice on Do Kwon, the downtrend price of Terra Classic continued. Taking effect of the notice, the $LUNC price declined by nearly 20% immediately after the news, leaving investors disturbed. 

The crash of the Terra Classic token has also led to the collapse of a high-profile crypto hedge fund called Three Arrows Capital. This issue has also impacted several crypto lenders offering LUNC in the market. 

But unexpectedly, the $LUNC has reversed in price action as there is an uptrend in the price. Per coinmarketcap.com, LUNC has gained over 50% in the last 24 hours and currently trades at $0.0003074. Investors should be wary as it could lead to a classic pump and dump scheme. The crypto community awaits further development in price as the search for Do Kwon intensifies.

What Is The Future Of LUNC

A spokesperson for South Korea explained that the Red Notice against Kwon would set a wrong precedence for the crypto industry and may cripple future innovations in the market.

Related Reading: Avalanche Struggle To Break Downtrend, Is $20 Mark Possible?

The collapse of Terra stablecoin will lead to greater regulatory scrutiny in the crypto market. Reports from last week indicate the House of Financial Services Committee has issued a bill introducing a two-year ban on creating and issuing algorithmic stablecoins like Terra. 

Featured image from Pixabay and chart from TradingView.com

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin September 27, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Why Investing In Terra Classic (LUNC) May Be A Bad Idea
Next Article Quant (QNT) Adds In Value Daily When Top Coins Bleeds

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?