Interpol issues a Red alert against Do Kwon, the co-founder of Terra.
Daniel Shin and Do Kwon developed terra Luna in 2018; the motto behind the development of Terra Luna was the volatility of the crypto market.
Terra is a stablecoin whose prices are pegged to the U.S. dollar in a ratio of 1:1 using algorithms and game theory.UST was an algorithmic stablecoin that uses a series of Smarts Contracts to keep the price stable compared to the U.S. dollar.
Although it is also believed that the crash of Terra Luna severely affected the crypto market, Bitcoin was hardly affected because Terra did not have a sufficient reserve, so it sold its Bitcoin reserve. The lack of Buyers dropped the prices of Bitcoin.
Earlier on November 16, 2022, TheCoinRepublic reported that the Korean prosecutors revealed that they had called Shin to interrogate him for violating the rules and regulations of the capital markets law for unfair trade practices.
Prosecutors have also highlighted that
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