Terraform Labs CEO Do Kwon arrested in Montenegro following the collapse of TerraUSD and Luna tokens. Discover the events leading to his arrest and the ongoing legal proceedings.
The US SEC has accused Terraform Labs and CEO Do Kwon of deceiving investors and committing a multi-billion-dollar fraud.
Interpol has placed Terra Labs founder and CEO Do Kwon under red notice, a notice that eyes to find and arrest the CEO.
Two American lawmaker is pushing to pass a law that will ban the creation of algorithmic stablecoins for two years.
Anonymous also pointed out and criticized Kwon for his “arrogant tactics” in addressing his competitors and critics and “acting like he would never fail.”
The investigation was carried out after the collapse of UST and LUNA last May, and affected 200,000 Koreans.
Kwon stated that the crypto community must stay away from fueling the rumor until it was proven true.
CZ pointed out the potential issues with forking Terra and noted that “minting, forking, don’t create value.”
CZ said that hard forking to TERRA2 “won’t work” as it would involve providing a new version of LUNA to all holders.
What’s next for LUNA and UST? Holders await founder Do Kwon’s new plans to save the Luna blockchain.