United States Charged Terraform Co-founder Do Kwon with Fraud in Collapse of Terra Platform with $60 Billion Losses Between TerraUSD & Cryptocurrency LUNA, Arrested in Montenegrin Airport & Found with Forged Costa Rica & Belgium Passports
25th March 2023 | Hong Kong
United States prosecutors have charged Terraform co-founder Do Kwon with fraud in the collapse of Terra platform with $60 billion losses between TerraUSD & cryptocurrency LUNA, and was arrested in Montenegrin airport (Podgorica airport) on 23rd March 2023 and founded with forged Costa Rica & Belgian passports. In 2022 September, a South Korea court has issued an arrest warrant for Terraform Labs Co-founder Do Kwon. More info below.
“ United States Charged Terraform Co-founder Do Kwon with Fraud in Collapse of Terra Platform with $60 Billion Losses Between TerraUSD & Cryptocurrency LUNA, Arrested in Montenegrin Airport & Found with Forged Costa Rica & Belgium Passports “
South Korea Court Issues Arrest Warrant for Terraform Co-founder Do Kwon, Collapse of Terra Platform with $60 Billion Losses Between TerraUSD & Cryptocurrency LUNA
15th September – A South Korea court has issued an arrest warrant for Terraform Labs Co-founder Do Kwon, 4 months after the collapse of Terra platform resulting in around $60 billion losses between TerraUSD (UST) & cryptocurrency LUNA. TerraUSD (UST) (stable coin) was pegged at 1:1 to USD, but the divergence of the pricing peg led to a collapse, resulting in numerous bankruptcy of crypto exchanges and more than $2 trillion of cryptocurrencies value wiped out. In July 2022, Crypto exchange Voyager Digital filed for chapter 11 bankruptcy protection, with $1.3 billion assets, $350 million cash & $650 million claim against crypto fund Three Arrows Capital. Three Arrows Capital had been ordered into liquidation by a BVI Court (British Virgin Islands), after failing to meet creditors demand for payment including $665 million from Voyager Digital. One of the largest crypto lender Celsius Network had also filed for chapter 11 bankruptcy, with senior executives reported to have sold their crypto holdings but had encouraged investors to buy on swings & low volume.
Billionaire Mark Cuban Named in Class Action Lawsuit for Promoting Crypto Currency Platform Voyager Digital
Billionaire & NBA team Dallas Mavericks owner Mark Cuban had been named in a class action lawsuit for promoting cryptocurrency platform Voyager Digital, which had announced a 5-year sponsorship of Dallas Mavericks in 2021 and filed for bankruptcy on 6th July 2022. Mark Cuban was a client of Voyager Digital, trading on the platform itself. His comments include: “As close to risk-free as you’re gonna get in the crypto.” In the class action lawsuit, the investors alleged the Voyager Digital was a “Ponzi scheme”.
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