Luna plummets 77% in two weeks after Do Kwon shuts down Twitter

The LUNA token’s value has fallen to a new low in two weeks after the Terra ecosystem was relaunched. According to Coingecko, the coin is currently trading at $ 3.48. The new ecosystem’s credibility is being eroded by new allegations against Do Kwon, who recently shut down his Twitter account.

FatMan, a self-proclaimed Terra insider, said that Terraform Labs and its founder lied about the new network belonging to the crypto community. According to him, the company owns 42 million LUNA worth more than $ 200 million. FatMan added that Kwon was actively involved in the ecosystem’s restart and used his LUNA assets to vote in support of the hard fork, ignoring the community’s calls to burn the tokens.

Despite the fact that this information needs to be confirmed, the insider’s accusations caused a massive drain of assets. Do Kwon’s decision to close his Twitter account also added fuel to the fire of distrust in the ecosystem.

Meanwhile, South Korean law enforcement agencies have launched an investigation into the theft of bitcoins from Terraform Labs by its former employee.