"he intended not to appear for questioning"
I'd like to see how important your intentions are when faced with police officers.
Do Kwon, founder of troubled cryptocurrency company Terraform Labs and a wanted man in Korea, took to Twitter over the weekend to deny that he was "on the run" and claim he is fully cooperating with authorities probing the crypto collapses in which he had a hand. Kwon's tweet came in response to statements reportedly issued …
So, these guys had 1 coin (UST) that were intended to hold a 1-to-1 parity with USD. The Luna exchange rate with UST would fluctuate, if the UST rose above $1 the assumption was people would shift from Luna to UST, the other way UST to Luna. Some algorithm was creating and burning coins as needed I guess. Well of course during a price crash, the algorithm decided to create like 9 trillion Luna, so the whole thing collapsed.
Just looking at history, it's clear to me that you can want a currency to maintain it's value as much as you want, if you have a currency collapse it's just not going to happen (like ZImbabwe and the $100 trillion bills they had in circulation... or countries where they exchange old currency for a new one at like 100,000:1 exchange rate or whatever.) People do put a lot of faith in algorithms so they may have thought they would take care of it. I don't know if this was an intentional Ponzi scheme, or if he just thought the algorithms would take care of it... I don't know.
Either way though.... $80 billion wiped out, that's a spicy meatball.