As soon as Do-Kwon came up with the recovery plan, criticism followed vigorously. Furthermore, some went a step further and filed suit in the wake of the huge loss caused to investors by UST D-Peg. Investors have filed suit against founders Do-Kwon and Daniel Shin. South Korean regulators, on the other hand, have given exchanges a mandate to freeze assets associated with Luna Foundation Guard (LFG).
Exchanges include Upbit, Bithumb, Coinone, Korbit, and GoPax, where officials will meet with these exchanges on May 25, 2022. In addition, the ruling party of South Korea has also selected this D-peg for further discussion and may take a decision on it. liability for damages. However, exchanges have no legal obligation and can only consider and comply with police orders and requests.
On the other hand, the price of LUNA is facing a major rejection at the moment, while projects running on the Terra blockchain are thriving.
LUNA price plunged into a sharp bearish wellspring since the monstrous spike a few days after the crash. Moreover, the price failed to break above the downtrend line despite the recent events of a significant spike. However, from the early trading hours, the bears have gained a significant dominance, which could eventually limit the price below $0.0002 for quite a long time.
UST, on the other hand, has gained a notable bullish momentum that took the price a step closer to $0.1. Despite a strong bounce, the price is still within the reach of the bears as the bulls may have distanced themselves at the moment. And as an icing on the cake, if exchanges freeze Terra’s assets, it could be extremely difficult for the price to find a rebound and end up being rug-pulled.