Former Terra CEO Do Kwon has been brought to New York to face charges related to alleged fraud, marking a significant development in the ongoing investigation into his involvement with the now-defunct cryptocurrency firm. The developments come as part of an ongoing probe by US authorities, who have been scrutinizing Kwon’s activities and dealings in the wake of Terra’s collapse.
Kwon had previously been wanted by Interpol for questioning regarding his alleged role in the collapse of Terra’s sister project, LUNA. He was initially placed on the agency’s most-wanted list but later removed after he relinquished his passport to South Korea. However, it appears that Kwon remains under scrutiny from US authorities.
The exact charges against Kwon have not been disclosed yet. Nevertheless, investigators are believed to be looking into allegations of wire fraud and conspiracy related to Terra’s collapse. As a former key figure in the cryptocurrency market, Kwon’s actions could potentially have significant implications for his assets and the wider crypto industry.
This situation highlights the ongoing challenges faced by regulatory bodies as they navigate the complex world of cryptocurrency trading. With Kwon’s case being closely watched, it remains to be seen how this will play out in the courts and what impact it may have on the market moving forward.
Source: https://www.ft.com/content/1c2f6295-918a-4d6a-af54-e67525611c56