Do Kwon Net Worth: What Is Left After $60 Billion Crash? - CoinCodex

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The nett worthy of Terra laminitis Do Kwon aft the monumental clang of Terra is estimated astatine $135 million. This takes into relationship Bitcoin holdings successful the Luna Foundation Guard wallet helium has successful his possession. 

Given Do Kwon's lengthy vocation successful the cryptocurrency manufacture and engagement successful respective crypto projects, his nett worthy whitethorn beryllium importantly higher, arsenic helium whitethorn person undisclosed wealth.

Who is Do Kwon?

Do Kwon's nett worthy remained sizeable aft the Terra crash

According to the latest reports from South Korean authorities, Do Kwon is hiding successful Serbia since November. Image source: Woohae Cho/Bloomberg/Getty Images

Kwon Do-Hyung, 31, hails from Seoul, South Korea. After founding the now-collapsed Terra cryptocurrency successful 2018, Do Kwon rapidly became of the astir well-known figures successful the cryptocurrency industry. Ushering the epoch of a decentralized dollar-pegged stablecoin UST successful 2020, Do Kwon earned a singular foothold successful the blockchain abstraction successful nary time.

He graduated arsenic a Computer Scientist from Stanford College and aboriginal worked arsenic an technologist with Apple and Microsoft. With sizeable tech acquisition nether his belt, helium pivoted to crypto wherever helium rapidly earned his estimation for being a arguable and vocal figure.

The archetypal tech task built by Do Kwon was an e-commerce tract that focuses connected connecting overseas shoppers with Korean suppliers. The task was launched portion Do Kwon was successful his aboriginal twenties. Its meteoric emergence earned him a spot connected the elite database of Forbes’ 30 nether 30 in 2019.

Do Kwon & Terra: How a apical 10 crypto task crumbled to virtually nothing?

Do Kwon launched his crypto task Terra portion successful his precocious twenties. He received enactment from respective different salient tech entrepreneurs including co-founder Lee Tae-jin from Kakao Talk and JB Lee from Dunamu (the creator of Upbit). They combined efforts to physique Terra arsenic a cryptocurrency level that is susceptible of revolutionizing integer payments by leveraging blockchain technology.

However, it seemed that determination were loopholes with Terra stablecoin plan arsenic it could not past the slope tally successful mid 2022, which yet led to the ecosystem’s implosion. Prior to the incident, the price of Terra Classic and UST (which was pegged 1:1 to USD) was astir $110. However, erstwhile the UST peg was shaken, investors started withdrawing their LUNA and UST en masse.

Per reports, the $60 cardinal decentralized stablecoin task saw a monolithic wipeout of astir $45 cardinal causing each Terra investors and its founders to suffer monolithic portions of their crypto wealth. Unfortunately, Terra's illness extended its fallout to the full crypto manufacture arsenic it triggered a large displacement successful the sentiment of galore retail investors towards cryptocurrency. Hence, the worth of different crypto assets plunged significantly.

In conscionable a fewer abbreviated days aft UST mislaid its peg, the full crypto marketplace plunged from astir $1.84 trillion to beneath $1.30 trillion. During that aforesaid period, the price of UST plunged from $1 to $0.25, portion the terms of Terra Classic saw an adjacent much utmost drop, falling from $80 to $0.30.

While Do Kwon has been held liable for Terra's crash, a bid of accusations person been raised against him, specified arsenic breaching South Korea’s capital-markets law, and tons more. The young crypto entrepreneur has had a bid of lawsuits to woody with arsenic helium is present wanted by the South Korean authorities for his relation successful the 99.99% illness of Terra. 

According to a December study by South Korean prosecutors cited by CNN, Do Kwon fled Singapore aft the Terra collapse, settling successful Dubai earlier yet heading to Serbia, wherever helium is believed to reside astatine the clip of writing. In September, helium said helium was not “on the run” and noted that his apprehension warrant successful South Korea was “politically motivated.

I americium not “on the run” oregon thing akin - for immoderate authorities bureau that has shown involvement to communicate, we are successful afloat practice and we don’t person thing to hide

— Do Kwon ? (@stablekwon) September 17, 2022

What is Do Kwon's nett worthy successful 2023?

Estimating the nett worthy of the fashionable crypto seasoned who founded Basis Cash and Terra (LUNA), would person been a batch easier earlier the abrupt illness of Terra. 

It is nary quality that the unfortunate lawsuit saw Do Kwon's cryptocurrency ecosystem crumble successful a $60 cardinal wipeout, causing his luck to diminution significantly, and investors losing astir of their funds.

The crypto seasoned attested to having mislaid astir each his nett worthy successful the Terra crash, leaving him to prime the pieces of the remaining few. However, helium claimed successful an interrogation with The Wall Street Journal that the illness of his task had small effect connected his life, saying that helium is utilized to surviving a reasonably “frugal life.”

Meanwhile, it is hard to accidental precisely the existent nett worthy of Do Kwon arsenic helium had reportedly been retired of the nationalist oculus since the clang till the clip of writing. Recent reports person it that Do Kwon has entree to the Luna Foundation Guard’ (LFG) wallet, wherever helium withdrew immoderate funds aft helium fled to Serbia. Kwon's entree to the wallet suggests that helium whitethorn inactive person implicit $135 cardinal worthy of Bitcoin successful his possession arsenic of aboriginal 2023.

Luna Foundation Guard's Bitcoin code

Bitcoin wallet that is believed to beryllium successful possession of Do Kwon has much than 6400 BTC. 

The biggest crushed wherefore LFG’s wallet is believed to beryllium successful power of Do Kwon is the information that 9.64 BTC person been cashed retired done a Bitcoin ATM instrumentality astatine the aforesaid clip that helium entered Serbia. 

What was Do Kwon’s nett worthy earlier the clang of the Terra ecosystem?

The crypto manufacture saw a singular bullish inclination successful 2019 and 2020, wherever the combined worth of each integer assets spiked beyond $3 trillion. 

Prior to the illness of Terra, reports revealed that Luna Foundation Guard (LFG) – a nonprofit enactment founded to support the stableness of the UST peg and foster the maturation of the Terra ecosystem – became 1 of the largest Bitcoin holders, having acquired much than 80,000 BTC, oregon 0.4% of the full Bitcoin supply.

With Do Kwon presently suspected of being successful possession of LFG’s wallet, it could beryllium argued that helium was successful possession of this wallet each along. That would enactment Do Kwon’s nett worthy earlier the Terra clang astatine astir $3 billion, if we instrumentality the mean price of Bitcoin during aboriginal 2022 into account. And that’s not accounting for different holdings and investments.

Furthermore, reports besides revealed accusations of Terraform Labs' co-founder having shadiness wallets that carried implicit $200 cardinal worthy of LUNA tokens. However, facts astir the shadiness wallets person not yet been confirmed.

It is worthy noting that Do Kwon himself commented connected his luck successful aboriginal 2022, saying that helium was a billionaire erstwhile the LUNA token was trading adjacent $100.

Bottom Line: Do Kwon remains a crypto millionaire contempt the monumental illness of his project

Despite the monumental nonaccomplishment of the Terra ecosystem, which caused thousands of investors to suffer their money, Do Kwon has remained extraordinarily rich, astatine slightest according to reports and blockchain information we’ve managed to examine.

If you are funny successful however Do Kwon stacks up against different salient crypto figures, cheque retired the nett worthy of Ethereum's laminitis Vitalik Buterin, the anonymous laminitis of Bitcoin Satoshi Nakamoto, and Justin Sun the laminitis of TRON.

Source Cryptocurrencies