Terra Founder Do Kwon Arrested in Montenegro, Interior Minister Says

Collapse co-founder Do Kwon stablecoin

Stablecoin

Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that were designed to hold stable value. Putting more emphasis on stability rather than volatility can be a huge draw for some investors. Many people may be put off by the large swings and uncertainty exhibited by cryptos compared to other traditional assets.

Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that were designed to hold stable value. Putting more emphasis on stability rather than volatility can be a huge draw for some investors. Many people may be put off by the large swings and uncertainty exhibited by cryptos compared to other traditional assets.
Read this term The transmitter, Terraform Labs, was arrested by police authorities in Montenegro, Filip Adzic, the country’s interior minister, revealed on Thursday. According to Adzic, Kwon was arrested at Podgorica airport and found with forged documents.

“Montenegrin Police have arrested 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,” Adzic tweeted Thursday in Croatia (translated by Google).

U PODGORICI UHAPŠEN JEDAN OD NAJTRAŽENIJIH SVJETSKIH BJEGUNACA

Crnogrska policija lišila je slobode lice za koje se sumnja da je jedan od najtraženijih bjegunaca, južnokorejski državljanin Do Kwon, suosnivač i izvršni director Terraform Labs sa sjedištem u Singapuru.
1/2

—Filip Adzic (@filip_adzic) March 23, 2023

Yonhap News Agency, a local Korean newswire, reported that an official with the national political agency “confirmed that he was the same person as CEO Kwon” using photo data. Local police also verified the age, nationality and name of the arrested person using the identity card in their possession, the outlet said.

“We are awaiting official confirmation of identity,” Adzic wrote in the tweet.

Kwon ran the algorithmic stablecoin TerraUSD (UST) and related token LUNA from April 2018. He marketed UST as yield

Yield

A return is defined as the income generated by an investment or security over a given period. This is usually displayed in percentage terms and comes in the form of interest or dividends received from it. Returns do not include price changes, which differentiates it from total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products. Returns can be calculated as a ratio or as a

A return is defined as the income generated by an investment or security over a given period. This is usually displayed in percentage terms and comes in the form of interest or dividends received from it. Returns do not include price changes, which differentiates it from total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products. Returns can be calculated as a ratio or as a
Read this term-bearing stablecoin offering returns of up to 20%. However, the UST, which was pegged 1 to 1 with the US dollar, lost balance in May 2022, touching close to zero.

The failure of the project sent panic to the global cryptocurrency world, ultimately leading to a wave of bankruptcies among digital asset companies exposed to the project. Experts estimate that losses due to failure exceeded $40 billion.

After the collapse, a South Korean court issued an arrest warrant against Kwon for allegedly violating South Korean capital markets laws. Two months earlier, the country’s authorities also raided Kwon’s house in a bid to establish the criminal activities behind the collapse of Terra-LUNA.

In the first few days after the collapse, Kwon said he was cooperating with authorities in their investigation. However, his whereabouts remained unknown for many months.

Last month, the US federal securities regulator charged the co-founder of Terra for leading a “multi-billion dollar crypto asset securities fraud”. The watchdog also alleged that the crypto assets offered by Kwon’s company were unregistered securities.

Collapse co-founder Do Kwon stablecoin

Stablecoin

Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that were designed to hold stable value. Putting more emphasis on stability rather than volatility can be a huge draw for some investors. Many people may be put off by the large swings and uncertainty exhibited by cryptos compared to other traditional assets.

Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that were designed to hold stable value. Putting more emphasis on stability rather than volatility can be a huge draw for some investors. Many people may be put off by the large swings and uncertainty exhibited by cryptos compared to other traditional assets.
Read this term The transmitter, Terraform Labs, was arrested by police authorities in Montenegro, Filip Adzic, the country’s interior minister, revealed on Thursday. According to Adzic, Kwon was arrested at Podgorica airport and found with forged documents.

“Montenegrin Police have arrested 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,” Adzic tweeted Thursday in Croatia (translated by Google).

U PODGORICI UHAPŠEN JEDAN OD NAJTRAŽENIJIH SVJETSKIH BJEGUNACA

Crnogrska policija lišila je slobode lice za koje se sumnja da je jedan od najtraženijih bjegunaca, južnokorejski državljanin Do Kwon, suosnivač i izvršni direktor Terraform Labs sa sjedištem u Singapuru.
1/2

—Filip Adzic (@filip_adzic) March 23, 2023

Yonhap News Agency, a local Korean newswire, reported that an official with the national political agency “confirmed that he was the same person as CEO Kwon” using photo data. Local police also verified the age, nationality and name of the arrested person using the identity card in their possession, the outlet said.

“We are awaiting official confirmation of identity,” Adzic wrote in the tweet.

Kwon ran the algorithmic stablecoin TerraUSD (UST) and related token LUNA from April 2018. He marketed UST as yield

Yield

A return is defined as the income generated by an investment or security over a given period. This is usually displayed in percentage terms and comes in the form of interest or dividends received from it. Returns do not include price changes, which differentiates it from total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products. Returns can be calculated as a ratio or as a

A return is defined as the income generated by an investment or security over a given period. This is usually displayed in percentage terms and comes in the form of interest or dividends received from it. Returns do not include price changes, which differentiates it from total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products. Returns can be calculated as a ratio or as a
Read this term-bearing stablecoin offering returns of up to 20%. However, the UST, which was pegged 1 to 1 with the US dollar, lost balance in May 2022, touching close to zero.

The failure of the project sent panic to the global cryptocurrency world, ultimately leading to a wave of bankruptcies among digital asset companies exposed to the project. Experts estimate that losses due to failure exceeded $40 billion.

After the collapse, a South Korean court issued an arrest warrant against Kwon for allegedly violating South Korean capital markets laws. Two months earlier, the country’s authorities also raided Kwon’s house in a bid to establish the criminal activities behind the collapse of Terra-LUNA.

In the first few days after the collapse, Kwon said he was cooperating with authorities in their investigation. However, his whereabouts remained unknown for many months.

Last month, the US federal securities regulator charged the co-founder of Terra for leading a “multi-billion dollar crypto asset securities fraud”. The watchdog also alleged that the crypto assets offered by Kwon’s company were unregistered securities.