The entrepreneur behind two cryptocurrencies, Terra and Luna, that lost an estimated $40 billion or more last year faces fraud charges in Manhattan after being picked up on an international arrest warrant in Montenegro.
ALSO: CoinDesk market analyst Glenn Williams writes that a decrease in the number of bitcoin addresses with a balance of more than 1,000 bitcoins suggests that large, institutional investors are reluctant to add to their coffers.
Seoul, Mar 24 (EFE).- South Korea’s prosecutors said Friday that they will seek the extradition of Do Kwon, a co-founder of Singapore-based Terraform Labs, who was arrested the previous day in Montenegro in connection with a $40 billion crash of the firm’s cryptocurrency. The Seoul Southern District Prosecutors Office will begin processing a request to …
This follows the existing arrest warrant from South Korea for financial charges. Fraud in the crypto industry seems to be a recurring theme as another player is charged with fraud.