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A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indicated that he will not be extradited soon. The law enforcement official told South Korean media that Montenegrin authorities intend to indict Kwon within a month, ruling out the possibility of him being handed…
Terraform Labs co-founder Do Kwon established a company in Serbia for less than $1 just weeks after being flagged with an Interpol red notice, according to documents from the Serbian Business Registry. As per a DLNews report on March 27 citing the official records, Kwon opened a company called…
South Korean authorities are intensifying their efforts to track down and arrest Shin Hyun-Seong, also known as Daniel Shin, co-founder of cryptocurrency platform Terra. This follows the recent arrest of his fellow co-founder, Do Kwon, who was detained in Montenegro while attempting to board a plane using fake travel…
Following Terraform Labs’ co-founder Do Kwon’s arrest in Montenegro while trying to board a plane using fake documents, South Korean authorities have turned up efforts to track down and arrest Shin Hyun-Seong, also known as Daniel Shin — Terra’s other co-founder. Since November 2022, South Korean authorities have suspected the…
According to the Montenegro-based newspaper Vijesti, Do Kwon, the co-founder of Terraform Labs, also known as Kwon Do-hyung, is appealing the detention extension ordered by a Montenegrin court. Kwon was arrested on March 23, 2023, after being caught at Podgorica Airport in Montenegro while traveling with fraudulent identification documents.…
Do Kwon, the co-founder of Terraform Labs, was recently arrested at Podgorica airport in Montenegro for attempting to fly to Dubai using fake documents. Following his arrest, the Montenegrin court approved a 30-day extension to Kwon’s detention period, which is longer than the usual 72-hour period allotted by authorities.…
Following his arrest in Montenegro while attempting to fly using fake documents, Terraform Labs co-founder Do Kwon will reportedly appeal the court’s decision to extend detention time for up to 30 days. A legal representative of Kwon confirmed the appeal against the Montenegrin court’s decision to detain the entrepreneur…
Following recent enforcement action against various crypto entities and celebrities, the U.S. Securities and Exchange Commission has issued an advisory notice to investors telling them to be cautious of risks associated with crypto asset securities. The U.S. securities regulator insists that specific entities offering crypto asset investments or services…
Key Takeaways Montenegrin police apprehended a person believed to be Do Kwon. South Korean authorities have provided visual confirmation but are awaiting fingerprint information. Kwon was arrested at Podgorica airport with forged documents. Share this article URL Copied Terra frontman Do Kwon was apprehended at Podgorica airport by Montenegrin…
According to Montenegro’s interior minister Filip Adzic, Terraform Labs co-founder Do Kwon was apprehended at Podgorica airport allegedly bearing falsified documentation. Adzic added that investigators are “waiting for official confirmation of his identity” after Montenegrin police detained the accused suspect. Terra Co-Founder Reportedly Arrested in Montenegro at Podgorica Airport…
Montenegrin police have apprehended an individual suspected of being one of the most wanted fugitives in the world — Do Kwon, a South Korean national, co-founder, and CEO of Terraform Labs based in Singapore. Per a tweet published by Filip Adzic, Montenegro’s interior minister, Kwon, responsible for losses exceeding…
According to a post from Filip Adzic, minister of the interior of Montenegro, an individual suspected of being Terra Luna co-founder Do Kwon has been arrested within the territory of the Balkan nation on Mar. 23. Since the announcement was first made, local news outlet Vijesti has confirmed that the…
The Securities and Exchange Commission (SEC) has been targeting several digital currency companies and individuals over the past few weeks. In the past, the agency made a case against Do Kwon, the former CEO of Terraform Labs, and now, it looks like that case has gotten even bigger. The…
Approximately one year prior, on Mar. 14, 2022, cryptocurrency trader GiganticRebirth (GCR) invited the then co-founder of CEO of Terraform Labs, Do Kwon, in a $10 million bet that the price of Terra Luna (LUNC) would be lower than its then price of $92.4 per token one year later.…
The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned…
The US Justice Department (DoJ) is delving into the mysterious collapse of TerraClassicUSD (USTC) stablecoin, which wreaked havoc on the Terra ecosystem, resulting in a staggering $40 billion wipeout last May. According to reports, the Federal Bureau of Investigation and the US Attorney’s Office for the Southern District of…
The United States Justice Department is reportedly investigating the collapse of the TerraClassicUSD (USTC) stablecoin which contributed to a $40 billion wipe out in the Terra ecosystem last May. Two agencies within the department — the Federal Bureau of Investigation (FBI) and Southern District of New York (SDNY) have…
The death spiral of the Terra (LUNA) and TerraUSD (UST) ecosystem served as a catalyst to the 2022 bear market — causing losses in the millions, damaging investor sentiment and intensifying the regulatory spotlight over cryptocurrencies. However, the recent depegging of Circle’s USD Coin (USDC) led Binance CEO Changpeng…
After reports made rounds that Binance had adopted a trading pair with USDT, the price of the Terra Classic USD stablecoin, commonly known as USTC, went up by 12%. According to CoinMarketCap charts, as the price of USTC drastically went up over the last twenty-four hours, the trade volume of…
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust.…
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The backlash from the Terra implosion still haunts the crypto world, with the now-shuttered stablecoin yield platform Stablegains being sued for customer losses.…
Customizable rollup provider Eclipse announced that the startup is launching a scaling solution that is compatible with Solana and Polygon. Eclipse disclosed that the Layer 2 blockchain can run smart contracts on Solana, and decentralized applications (dapps) will be easily migratable to the Polygon Sealevel Virtual Machine (SVM). How…
In the days that immediately followed the collapse of the cryptocurrency firms FTX and Terraform Labs, there was an increase in the amount of trading activity that took place on significant exchanges, according to a report that was released by the Bank for International Settlements (BIS). According to a…
A report from the Bank for International Settlements (BIS) suggested that trading activity on major exchanges increased in the days following the collapse of crypto firms FTX and Terraform Labs. According to a Feb. 20 bulletin on “crypto shocks and retail losses,” the BIS reported that while the price…
New week, a new element of the crypto ecosystem is under attack. This time, the United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD (BUSD) — a dollar-pegged stablecoin. Paxos received a cease order from the New York Department of Financial Services (NYDFS).…
The decentralized finance yield platform known as Stablegains is the subject of a legal action that has been brought against it in a court in the state of California on the grounds that it allegedly deceived investors and did not comply with securities legislation. This action was brought against…
Key Takeaways Crypto hedge fund Galois Capital is closing down. The firm claims that almost half of its assets were still on FTX when the exchange collapsed. It has already sold its FTX claims for 16 cents on the dollar. Share this article URL Copied Crypto hedge fund Galois…
Decentralized finance yield platform Stablegains has been sued in a Californian court for allegedly misleading investors and failing to comply with securities laws. On Feb. 18, plaintiffs Alec and Artin Ohanian filed a complaint in the U.S. District Court for the central district of California. In it they alleged…
There’s been no shortage of news in past weeks when it comes to the United States Securities and Exchange Commission (SEC) taking action against crypto exchanges and companies. From Kraken, to Paxos, to Terraform Labs, it seems enforcement is in the air when it comes to chair Gary Gensler’s…
Caitlin Long, CEO of crypto bank Custodia, criticized the U.S. government for its handling of a massive crypto fraud that occurred months before the company’s collapse. She made her remarks in a blog post after disclosing evidence to law enforcement. Long’s post followed Custodia’s unsuccessful application to become a…
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