Do Kwon, the former CEO of Terraform Labs, is facing extradition to both South Korea and the United States after being arrested in Montenegro for carrying a fake passport. This follows the spectacular collapse of TerraUSD (UST) and Luna, which saw almost $40 billion disappear from the cryptocurrency market, causing fears of contagion across the […]
Do Kwon, the founder of Terraform Labs, has been arrested in Montenegro, and boy, oh boy, it’s about time! Kwon had been on the run since South Korea asked Interpol to circulate a “red notice” for him in September 2022. But now, the long arm of the law has finally caught up with him, and […]
Terraform Labs is facing significant legal trouble in both South Korea and the United States. In South Korea, the company is being investigated for fraud, embezzlement, and money laundering in connection with its failed algorithmic stablecoin, TerraUSD. The stablecoin was once the third-largest by market capitalization and was backed by the LUNA token, which also […]
Do Kwon, the co-founder of Terraform Labs, is reportedly in Serbia, according to South Korean media. Since the Terra ecosystem’s collapse, the contentious crypto figure has been on the run amid numerous inquiries and legal actions. According to South Korean prosecutors, Kwon traveled from Singapore to Serbia through Dubai. The former Terra boss was said […]
Reports show that South Korean authorities have frozen about $40 million worth of crypto assets allegedly in the possession of controversial Terraform Labs co-founder Do Kwon. Citing local news sources on his Twitter page yesterday, popular cryptocurrency journalist Colin Wu noted: According to News1, South Korean prosecutors have frozen $39.66m of crypto assets, including BTC, […]
Terra tokens slumped on Wednesday following the announcement of an arrest warrant against founder Do Kwon by a South Korean court. Today alone, LUNA and LUNC have fallen by 35% and 19%, respectively. Kwon has become a controversial figure in the crypto space after two of his coins, which occupied the top ten rankings by […]
A recent report from on-chain analytics platform Santiment suggests that TerraClassic (LUNC) and TerraClassicUSD (USTC) could come back into public interest. The report also noted that these cryptocurrencies remained largely ignored by the crypto community for several months before the Terra meltdown. Santiment argued that the 110% and 320% respective rallies recorded in LUNC and […]
As Terra continues to battle plummeting prices across all its crypto tokens and regulatory scrutiny, CEO Do Kwon has come under fresh allegations of shadiness by famous Terra whistleblower and critic “Fatman.” Over the weekend, Fatman accused Kwon of secretly withdrawing over $2.7 billion from the Terra project a few months before the devastating UST […]
The US Securities and Exchange Commission (SEC) has launched an investigation into the conduct of Terraform Labs and its algorithmic Stablecoin Terra Classic UST (USTC), according to a Bloomberg report on Thursday. UST lost its dollar peg in early May, which triggered a market-wide meltdown leading to the collapse of Luna Classic (LUNC). Both USTC […]
