Terra Classic

TerraClassicUSD

<ul><li>Law enforcement agencies all across the globe have been actively searching for Kwon.</li><li>Do Kwon was reportedly apprehended at the Podgorica airport.</li></ul>Finally, on Thursday in Podgorica, Montenegro, police apprehended <a href="https://thenewscrypto.com/tag/do-kwon/" rel="noopener noreferrer nofollow">Do Kwon, CEO of Terraform Labs</a>. The Montenegrin police say they have captured a person they believe is Terraform Labs’ CEO; they identify Kwon as one of the most wanted fugitives and a South Korean national.Over the last several months, law enforcement agencies all across the globe have been actively searching for Kwon. By mid-2022, the crypto market had suffered extensive losses as a result of the Terra network’s failure and its knock-on effects. Kwon was reportedly apprehended at the Podgorica airport. This is according to a statement released by the Montenegrin Ministry of the Interior.One interpretation of the minister’s remarks reads as follows:<blockquote>“Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs.”</blockquote><h3 id="u-s-sec-filed-a-lawsuit">U.S SEC Filed a Lawsuit</h3>Moreover, the CEO of Terraform Labs denied being “on the run” last year. In September 2022, he addressed rumors to the contrary by saying the following. At the time, Kwon said he was working closely with the appropriate authorities.Furthermore, the <a href="https://thenewscrypto.com/u-s-sec-issues-investors-alert-warning-over-cryptocurrency-dealings/" rel="noopener noreferrer nofollow">U.S. Securities and Exchange Commission (SEC)</a> filed a lawsuit in U.S. federal court in Manhattan in February 2023, accusing the creator of <a href="https://thenewscrypto.com/terra-luna-price-prediction" rel="noopener noreferrer nofollow">Terra LUNA</a> of engineering a $40 billion securities scam using LUNA and Terra’s algorithmic stablecoin TerraUSD (UST).Gary Gensler, the head of the Securities and Exchange Commission, had said that Kwon did not offer investors sufficient information on the ‘crypto asset securities’ LUNA and Terra USD.

Terraform Labs Co-founder Do Kwon Reportedly Arrested in Montenegro

Table of Contents

TheNewsCrypto

Other articles published on Mar 24, 2023

💥 Credit Suisse Collapse: Are You Safe?!

Binance’s CEO Updated and Reassured Users on Twitter as Exchange Suffered Rare Outage

Sports Prediction App ‘Pooky’ Launches Full Version of Its Play-and-Earn Game

Cathie Wood Predicts Institutional Crypto Adoption

Banking Sector and Blockchain Technology

LATOKEN, a Leading Global Crypto Exchange, Acted as IEO and Listing Partner for the Upcoming Spre...

Join our free newsletter for daily crypto updates!