South Korean police have revealed that a family may have committed suicide because of the collapsed altcoin terra (LUNA). A report by the Korea JoongAng Daily on Wednesday said police had found the bodies of a missing family. There is thought to be some evidence that the family may have committed suicide due to the Terra (LUNA) collapse. Here are the details
The Terra collapse may have driven this family to suicide
A car identified as belonging to the family of a student Cho Yoo-na was found underwater by South Korean law enforcement near Songgok Harbor on Wando Island. In the vehicle, police discovered the bodies of Cho Yoo-na and two adults who were suspected of being Cho’s parents. The circumstances leading up to the family’s death remain unclear. However, preliminary evidence in the police report suggests a possibility of suicide from the financial pressures brought by the May Terra ecosystem collapse.
Investigators investigated parents’ online activities. It revealed that frequent searches included “Luna Coin,” “sleeping pills,” and ways to commit suicide. CCTV footage showed the family was last seen around their rental home on May 30. Cho, 10, was reported missing by his school after his parents, who said they would be traveling for a month, did not return to school on June 22, as promised. Police found piles of unpaid bills in their home. Therefore, he reported that before his disappearance, the family appeared to be in significant financial trouble.
The collapse of altcoin LUNA sends shockwaves through the market
The collapse of the Terra ecosystem in May shook the crypto community significantly. It risked crashing the entire crypto market. As a result, nearly $40 billion of investor funds were destroyed. It’s worth noting that the police have yet to confirm whether Cho’s family has invested in the cryptocurrency. In particular, there have been several unconfirmed cases of suicide by people who bet on the asset.
However, since the Terra collapse, Terraform Labs founder Do Kwon has launched a new Blockchain. He claimed that the project was unsuccessful and that he was not guilty of any fault on his part. Kwon and his team continue to be investigated in Singapore and the United States. The project is facing many lawsuits for its actions that led to the disastrous event. As Cryptokoin.com reported on Monday, the famous hacker group Anonymous believes that Kwon is defrauding investors.
The group says it is actively investigating the issue. He also states that Kwon is looking for evidence that investors regularly take their funds on him each month. Time will tell what will happen with the LUNA. At the time of writing, LUNA is changing hands at $2.08, down 18 percent.
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