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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.
Updated May 9, 2023, 4:11 a.m. Published Mar 23, 2023, 1:37 p.m.
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
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