Cryptocurrency King Do Kwon in Handcuffs: He Burned $40 Billion in a Few Days

Kwon Do Hyungthe 31-year-old co-founder of Terraform Labs, wanted in United Stateany in South Korea Because of a scam related to the collapse of more than $40 billion In cryptocurrency, yesterday, March 23, at the black MountainAccording to the reports of the country’s interior minister, Philip Adzic. “Montenegro police have arrested a person believed to be one of the most wanted fugitives, South Korean citizen Do Kwon,” he said. Adzic Communicates Co-Founder of Cryptocurrency Stopped at the Airport Podgorica In possession of “falsified documents”. South Korean news agency Yonhap Police said the suspect’s passport name, age and country of birth matched Kwon’s.

International arrest warrant

Last September, South Korean prosecutors issued an international arrest warrant, accusing Do Kwon of violating the country’s financial laws. L’Interpol. international police As issued by A red alert, putting international law enforcement authorities on alert in order to arrest Kwon. South Korea also threatened to suspend the validity of his passport. Soon after the arrest warrant was issued, Do Kwon disappeared. In February 2023, the US Securities and Exchange Commission charged Do Kwon and Terraform Labs with defrauding investors, claiming that they helped organize “ Billion dollar cryptocurrency securities fraud involving stablecoins Algorithms and other cryptocurrency addresses.” As I mentioned bloomberg “US prosecutors in New York have charged Kwon with eight counts, including securities fraud, commodity fraud and wire fraud.” He adds that US and South Korean officials have asked Montenegro to extradite Kwon bloomberg.

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