• US prosecutors have reportedly accused Do Kwon, the Co-Founder of Terraform Labs, of running a cryptocurrency fraud that resulted in losses of at least $40 billion for investors.
• A grand jury in Manhattan has charged Kwon with securities fraud, commodities fraud, and conspiracy.
• The US Department of Justice and SEC have launched an investigation into Terraform Labs and its former employees to determine the main factors behind the collapse of LUNA/UST.

Accusations Against Do Kwon

US prosecutors have reportedly accused Do Kwon – the Co-Founder of Terraform Labs – of orchestrating a cryptocurrency scam that drained at least $40 billion from investors. A grand jury in Manhattan supposedly charged Kwon with securities fraud, commodities fraud, and conspiracy.

Do Kwon Detained

The authorities of Montenegro arrested the 31-year-old developer earlier this week after he was on the run for several months, hiding in numerous countries and falsifying his identity.

Investigation Launched

The US Department of Justice also joined the club, launching an investigation against the project and its former employees to determine the main factors behind the catastrophe. The US SEC’s plea suggested that Terraform Labs and Kwon organized a massive scam by offering and selling unregistered securities through digital currencies.

SEC & DOJ Involved

The US SEC’s plea suggested that Terraform Labs and Kwon organized a massive scam by offering and selling unregistered securities through digital currencies. The US Department of Justice also joined the club, launching an investigation against the project and its former employees to determine the main factors behind the catastrophe.

Kwon Arrested in Montenegro

Kwon was detained earlier this week in Montenegro after being on run for several months while hiding in numerous countries using false identities.

Von admin