Terraform Labs co-founder Do Kwon will face securities fraud charges in the US
Briefly

from Engadget2 months ago
Do Kwon, CEO of Terraform Labs, faces extradition to the US to confront allegations of orchestrating a multi-billion dollar crypto asset securities fraud involving algorithmic stablecoins.
Engadgethttps://www.engadget.com/big-tech/terraform-labs-co-founder-do-kwon-will-face-securities-fraud-charges-in-the-us-142734704.html
After the collapse of Luna and TerraUSD in May 2022, which wiped out $40 billion from the crypto market, Kwon was arrested in Montenegro while trying to flee.
Engadgethttps://www.engadget.com/big-tech/terraform-labs-co-founder-do-kwon-will-face-securities-fraud-charges-in-the-us-142734704.html
The US SEC accuses Kwon of failing to provide full and honest disclosure regarding crypto asset securities and committing fraud that led to significant investor losses.
Engadgethttps://www.engadget.com/big-tech/terraform-labs-co-founder-do-kwon-will-face-securities-fraud-charges-in-the-us-142734704.html
Despite lacking extradition treaties with the US, Montenegro's Justice Minister authorized Kwon's extradition, marking a significant development in the ongoing legal battle surrounding the Terraforms collapse.
Engadgethttps://www.engadget.com/big-tech/terraform-labs-co-founder-do-kwon-will-face-securities-fraud-charges-in-the-us-142734704.html
Read at Engadget
#do-kwon #terraform-labs #crypto-fraud #extradition #terrausd
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