Direct action may not always get the goods.
That is the conclusion from the story of a South Korean streamer known as Chancers.
The founder of the Terra and Luna stable coins turned out to be anything but stable when he showed up to his house, according to chancers.
He became part of the top 1 percent in South Korea after the huge crash of Terra stable coin, but he was in financial ruin.
I lost a lot of money in a short period of time, and I felt like I was going to die. The value of mycryptocurrencies was wiped out.
The streamer said he only went to the house to talk, but ended up getting a legal lesson.
According to Korean law, it is illegal to just go there and try to talk. I did not know.
He said that he may not be able to return to the civil service because of his criminal record.
There is more than one person involved in this scandal who is in trouble with the law.
The stable coin crash has led to criminal and financial investigations of his company, Terraform Labs, though he says he has not been hurt.
Those investigations follow not only a former Kwon coin that failed, but also suspicious public comments he made about how he loves Chaos and his belief that there is entertainment in watching companies die.
The chancers says he has lost his faith in the technology and now believes it is a scam.
It is hard to disagree given the context.
I was arrested for knocking on the door of the Luna boss.
There are more on the Terra stable coin crash.
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