Do Kwon, former crypto executive, charged with fraud in US court after TerraUSD and Luna collapse - PRESS AI WORLD
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Do Kwon, former crypto executive, charged with fraud in US court after TerraUSD and Luna collapse

share-iconSaturday, January 04 comment-icon2 weeks ago 10 views
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Do Kwon, former crypto executive, charged with fraud in US court after TerraUSD and Luna collapse

Credited from: SCMP

  • Do Kwon, the South Korean cryptocurrency entrepreneur, faces fraud charges in a US court related to the collapse of TerraUSD and Luna.
  • He was extradited from Montenegro and is set to appear in front of US Magistrate Judge Robert Lehrburger on Thursday.
  • Kwon has been charged with securities fraud, wire fraud, commodities fraud, and conspiracy by federal prosecutors in Manhattan.
  • A civil trial found him and Terraform Labs liable for misleading investors, while he previously settled with the SEC for $80 million.
  • The failure of TerraUSD and Luna in 2022 led to a significant downturn in the cryptocurrency market, affecting various digital assets.

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