Police are investigating a stranger visiting Terraform Labs CEO Kwon Do-hyung‘s home in Seoul, Money Today reported.
Authorities are trying to find out whether the visit was connected to the overnight crash of Luna, Terraform Labs’ cryptocurrency, whose value fell below US$1. Its stablecoin TerraUSD had also dropped.
Terraform Labs halted blockchain production on Friday as it attempts to “reconstitute” the network, reported Bloomberg.
See also: Should crypto startups ditch ESOPs?
Just last month, the firm launched an accelerator program focused on the Terra ecosystem with LongHash Ventures that aimed to invest up to US$200,000 in participating firms.
Editing by Miguel Cordon
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