The Earth saga will go down in history as one of the most tragic in the history of cryptocurrencies, as, to this day, investors continue to suffer the wrath of the collapse in one way or another.
Earth enthusiast arrested
Known for being a streamer named Chancers, the Terra enthusiast was recently arrested by South Korean authorities. The arrest came after it was discovered that the man had visited the home of Terra's founder, Do Kwon.
Until before the collapse of May 9, when TerraUSD (quotation UST) lost its peg and LUNA plummeted 100%, Chancers, in his own words, was one of the top 1% in Korea in terms of finances. However, due to the collapse, he is now in trouble.
Despair over the losses brought him to Do Kwon's home, which got him further into trouble after South Korean law enforcement began looking for the man who visited the founder of Terraform Labs.
Eventually, Chancers turned himself in to the police. In a BBC report, Chancers said:
“I felt like I was going to die. I have lost a lot of money in a short period of time. About $ 2,4 million (£ 1,9 million) of my cryptocurrency was wiped out. "
But South Korea didn't stop there. The country's law enforcement and government agencies have tried to destroy Earth in all possible ways.
Ground LFG blocked
Recently, as reported by the Korean Broadcasting System, the Seoul metropolitan police agency asked many of the country's major stock exchanges to block the withdrawal of funds by the Earth's Moon Foundation Guard.
Following the incident and the tax evasion allegations, Do Kwon and Terra have been targeted by the government and this request is another step in that direction.
The authorities intend to bring Do Kwon to testify on the misdirection of the UST, which triggered a chain reaction that led to the collapse of the value of LUNA, with a loss of over 400 billion dollars for the cryptocurrency market.
Whether or not LFG blocks withdrawals is not up to law enforcement, as exchanges are not legally obligated to follow police orders.
In any case, after the collapse, despite the multiple strategies of Terraform Labs, LUNA and UST continue to drop in the charts, with the former valued at $ 0,00016 with an offer of 6,5 trillion LUNA and the latter trading at 0,06 dollars.