Do Kwon at his company’s offices in Seoul in 2022 © Bloomberg
Do Kwon, the South Korean crypto entrepreneur behind the $40 billion implosion of terraUSD and luna digital tokens last year, has been charged with fraud in the US, hours after his arrest in Montenegro.
In a 12-page indictment revealed Thursday, U.S. prosecutors accused Kwon of defrauding crypto customers by “deceiving those individuals about aspects of the Terra blockchain, including its technology and the extent to which it had been adopted by users”.
Kwon, who faces eight counts including title, merchandise and wire fraud, repeated misleading allegations in a TV interview in October 2019 as well as in a social media post the following year. prosecutors alleged.
A lawyer for Kwon did not immediately respond to a request for comment.
Learn more about Do Kwon here.
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