Do Kwon Comments Could Ignite A Recovery For Terra Classic (LUNC)

Terra Classic (LUNC) is on the path of recovery, and currently, the cryptocurrency is halfway through its values before the crash. Terra Classic (LUNC) was changing hands at $0.00030174 as per information from coingecko.com. The price rise comes from an arrest warrant against Terraform Labs founder Do Kwon.

Arrest Warrant Issued

The long arms of the law have finally gripped the Terraform Labs founder Do Kwon and five others. The founder has been charged with violations of market rules. The arrest warrant reveals that all the six accused are in Singapore.

The news led to a steep fall in Terra Classic (LUNC) price when the token fell by more than 15% in a short period. Previously the pass was changing hands at the $0.00034 range, and after the news came out, LUNC dropped to $0.00027. In the meanwhile, the token has made a recovery. The LUNC community has stated that Do Kwon was not associated with the Terra Classic project.

Make Kwon Comments And Terra Classic (LUNC) Fortunes

On the other hand, Do Kwon has said that he is not absconding and reiterated that he is fully cooperating with the government agencies and has nothing to conceal. He added that his company is in the process of defending itself in multiple jurisdictions.

“I am not ‘on the run or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation, and we don’t have anything to hide. We are in the process of defending ourselves in multiple jurisdictions – we have held ourselves to an extremely high bar of integrity. We look forward to clarifying the truth over the next few months.”

The effects of the comments of Do Kwon on the values of the LUNC tokens are to be seen.