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Terra's LUNA Tokens Fall Steeply on Do Kwon's Alleged Arrest
Kwon was reportedly arrested in Montenegro earlier on Thursday.
Terra blockchain's native luna tokens fell 8% amid reports of founder Do Kwon allegedly getting arrested in Montenegro, according to a tweet by Filip Adzic, the country's minister of interior.
Adzic's tweet said the person was suspected to be Do Kwon and the government is trying to confirm the identity.
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Traders reacted immediately to the reports. LUNA fell 10 cents from $1.40 at writing time on Thursday. Luna Classic tokens dropped just 3.7%, according to data from CoinGecko.
Read more: Do Kwon Arrested in Montenegro: Interior Minister
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
