LUNC up 33%; Terra co-founder Do Kwon announces his location following Interpol’s Red Notice

  • Do Kwon is said to have been “on the run” in recent days, leading to Interpol issuing a worldwide arrest warrant for him.
  • The Terra co-founder denied all allegations, saying he was writing code in his living room.
  • In the wake of this turmoil, LUNC managed to sneak a 33.34% rally over the past 24 hours.

Terra doesn’t seem to be leaving the headlines anytime soon, even though the debacle is now almost five months old.

The collapse of the ecosystem, which triggered a market-wide crash and millions of dollars in losses, led to all guns being trained on Do Kwon, the co-founder of Terra. The originator is now also the subject of an Interpol Red Notice.

But Do Kwon lives a normal life

At the request of South Korean prosecutors, Interpol this week issued a worldwide arrest warrant, also known as a “Red Notice,” on Do Kwon’s behalf. A Red Notice is typically a request from Interpol for local law enforcement to locate and provisionally arrest an individual pending extradition, surrender, or similar legal action.

These arrest warrants are usually issued to people who are “on the run” from the authorities. However, Do Kwon responded to these allegations on his Twitter, stating that he had made no effort to hide from the authorities.

In response, Do Kwon went on to explain that he wrote code in his living room and lived a normal life, going to the malls and walking.

This isn’t the first time Do Kwon has addressed such allegations. Earlier this month, he tweeted in response to the comments and clarified his status.

Luna Classic continues to grow

On the one hand, while the Do-Kwon saga is heating up, Luna Classic is also finding many buyers.

After erasing most of its gains from earlier this month, LUNC has rallied 33.34% over the past 24 hours. Potentially triggered by Do Kwon’s reaction, LUNC was able to trade at $0.00029503.

Luna Classic 24 hour price chart

The Relative Strength Index (RSI) shows that despite the market overheating after the rally, the buying pressure remains. If this continues, LUNC could see more rallies in the coming weeks.

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