A family of 3 resorted to suicide in South Korea. Korean Police recovered their corpses from a sea near Wando after they went missing for nearly one month. Reportedly, the suicide act was likely triggered by the apparent losses incurred by the family when UST and old LUNA crashed aggressively in May.
Family Suicide Traced To LUNA Crash
On the morning of June 29, Korean police and the coast guard recovered a car lying at the bottom of a sea near Wando with three dead bodies inside it, according to Korean Times.
Thereafter, fingerprints and belongings were extracted from the car to confirm the identities of the corpses. Per the news, available facts indicate that the bodies are those of a 10-year-old Cho Yoo-Na and her parents. Accordingly, the bodies have been moved to a funeral home in Gwangju where they come from.
Before this discovery, the family was reported missing to the Korean Police department on June 22 but they were last seen on May 30. With the expertise of about 200 Korean police officers using helicopters and drones, the discovery was made on the eighth day of the search.
According to the report;
“On May 17, Cho’s parents informed her school that they would be taking a month-long trip to Jeju Island from May 19 to June 15.”
“But Cho was still absent from school after that time, and his family could not be contacted by phone, which prompted school officials to visit their home. Seeing that the mailbox was full of unopened mail and no one was at home, they reported a missing case to the police on June 22.”
“This family was last seen leaving the guesthouse around 11 pm on May 30 – 1 day before check-out. Surveillance camera footage shows Cho’s mother carrying her child on her back while her father walks behind, holding a plastic bag in his left hand. The three were later seen leaving in private cars.”
TerraUSD and LUNC Crash Impacts
As stated in the news, Cho Yoo-Na’s parents may have been badly wrecked from their investment in the old Terra LUNA token, the Gwangju Southern Police Department noted.
Reportedly, the above conclusion was made after reviewing the browser history and websites Cho’s parents recently visited.
“Authorities found that her parents searched for LUNA multiple times on internet portals up to the day she went missing on May 30. They also searched online for sleeping pills and suicide methods,” the report stated.
In addition, Cho’s father is said to have struggled after losing his computer-related business in July 2021. Furthermore, the report revealed that the family’s credit card debt rose above $80,000 (100 million won).
Terra ecosystem collapsed in May 2022, following the de-pegging of the supposed stablecoin, TerraUSD (UST). As a result, many individual investors and crypto companies encountered tremendous adverse effects.
Recently, Nansen on-chain forensic concluded that the insolvency problems faced by Celsius Network and crypto hedge fund Three Arrows Capital (3AC) date back to UST and LUNC fall. This 3-member family suicide might just be another suicide case caused by Do Kwon’s Terra ecosystem tumble.