A report has been made against Do Kwon, the co-founder of the Terra network. This is contained in a Reddit post made by a user, SingaporeRaw on May 14.

The attached report to the Singapore Police Force did not disclose the identity of the person who filed the report. Other details were also not disclosed as the complainant tries to conceal their identity.

The post says that the report was made on behalf of the investors who lost their funds after the tokens of the Terra blockchain tumbled. The Terra stablecoin, Terra USD (UST) crashed below zero, just like that of the internal currency of the Terra network, LUNA.

Some of the details that are visible on the report shows that the complainant is an unemployed  Singaporean. The informant’s race was listed as Chinese, while their language was filled as English.

A Concerned Citizen for Investors

The document states that the identity of the individual who filed the report was authenticated by Singpass, adding that their signature is not required.

The complainant states that:

“I am a concerned citizen about those who have lost money on the LUNA currency scam. Wanted to make a police complain [sic] to seek justice for all those who have lost money. There are at least more than 1000 Singaporeans I know that invested in UST and Luna. UST was sold to them as a stablecoin.”

Many responders to the Reddit post actually considered what happened with Terra, a scam. Those knowledgeable about Singaporean law admit that the police will likely take action against Do Kwon.

Emergency Police Protection Request

On May 13, Do Kwon’s wife asked for police protection, citing security concerns. The Terraform founder’s wife alleges that an attempt was made by a yet-to-be-identifies person to access their home in Seongdong-gu district of Seoul. She told the police that the family feels threatened after their home address was made public. This was an offshoot of the husband’s business going awry.