When the cryptocurrencies Luna and Terra went from tens of trillions of won in market capitalization to pieces of toilet paper in just a few days, the Korean representative who created these two currencies made an official apology.

It's heartbreaking for his invention to make everyone suffer.

Reporter Im Tae-woo on the sidewalk.


CEO Kwon Do-hyung appeared on a foreign social media broadcast a week before Luna and Terra crashed.

Then, when the host asked what the future of other virtual currencies would look like, he replied:

[Kwon Do-hyung / CEO of Luna Terra issuer: 95% of cryptocurrencies will disappear.

It's also fun to watch such companies go bankrupt.]

In fact, CEO Kwon's ridicule came back to him as a boomerang.

Terra and Luna, which were created by CEO Kwon and have grown to several tens of trillions of won in market capitalization, have become trash in a few days, and major exchanges have decided to leave one after another.

Despite this, CEO Kwon, who had been silent all along, opened his mouth for the first time today (14th) through Twitter.

"I've been on the phone with colleagues, friends and family who have been shocked by the crash over the past few days," he said.

Regarding the 'eating' allegations, he explained that he did not sell any Luna or Terra, and that he did not benefit from the crash.

He also plans to give away 1 billion new currency to Luna and Terra holders and start fresh.

But the market reaction is chilly.

[Park Seong-jun / Director of Dongguk University Blockchain Center: Because the question of how we will guarantee and secure the reliability of tokens (virtual currency) will be raised again.

I don't think it can be overcome in a short period of time.]

After the crash, a man who broke into the house of CEO Kwon Do-hyung and fled without permission, turned himself in to the police after a while, and it turned out to be an Internet broadcaster on the topic of virtual currency.

(Video editing: Lee So-young)