Who is do Kwon & terraform labs?

Do Kwon and Terraform Labs were also charged with mobilizing a multi-billion dollar fraud by the Securities and Exchange Commission in the US last month. Terraform Labs' founder Do Kwon is arrested, according to Minister of Interior of Montenegro Filip Adzic. Adzic tweeted that "one of the world's most wanted fugitives was arrested in Podgorica.

Did terraform labs & do Hyeong Kwon orchestrate a multi-billion dollar crypto asset fraud?

The Securities and Exchange Commission today charged Singapore-based Terraform Labs PTE Ltd and Do Hyeong Kwon with orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.

What is terraform labs?

After graduating from Stanford University with a degree in computer science, he started Terraform Labs, which issued two closely linked digital currencies: TerraUSD, a stablecoin with a price of $1, and Luna, a more traditional cryptocurrency with a fluctuating value.

Who is do Kwon?

Prosecutors in South Korea have asked Interpol to issue a red notice for Do Kwon, the founder of the TerraUSD ( UST-USD) algorithmic stablecoin that caused a cataclysmic crash of the entire cryptocurrency market in May 2022. Yahoo Finance investigates the man behind the collapsed algorithmic stablecoin project and the reasons for its failure.