SEOUL, March 24 (Korea Bizwire) — South Korean prosecutors said Friday they will seek the extradition of Do Kwon, the wanted co-founder of Terraform Labs, behind a multibillion-dollar crash of the firm’s cryptocurrency last year, after he was arrested in Montenegro. The Seoul Southern District Prosecutors Office will begin the process to request Montenegro to [...]
SEOUL, Dec. 12 (Korea Bizwire) — Do Kwon, the wanted co-founder and CEO of Terraform Labs accused of fraud following the massive collapse of the blockchain firm’s cryptocurrencies, is currently in Serbia, prosecutors said Monday. The Seoul Southern District Prosecutors Office obtained intelligence that Kwon has stayed in Serbia for about month after leaving the [...]
SEOUL, Sept. 26 (Korea Bizwire) — The International Criminal Police Organization (Interpol) has issued a red notice for Do Kwon, the founder of Terraform Labs accused of fraud following the massive collapse of the firm’s cryptocurrencies in May, officials said Monday. The blockchain firm has been under investigation for alleged fraud and tax evasion after [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korean prosecutors said Sunday that Do Kwon, the wanted founder of Terraform Labs accused of fraud following the massive collapse of the firm’s cryptocurrencies in May, is “obviously on the run” and not cooperating with the investigation. The remarks came in response to Kwon’s claim in a tweet [...]
SEOUL, May 27 (Korea Bizwire) — A second group of investors in Terraform Labs’ troubled cryptocurrencies filed complaints Friday against its co-founders on charges of fraud. The company’s coins, TerraUSD and Luna, crashed earlier this month, causing huge losses for hundreds of thousands of investors. A total of 76 people participated in the latest legal [...]
SEOUL, May 25 (Korea Bizwire) — Police said Wednesday they have wrapped up an investigation into a crypto investor accused of trespassing at the apartment of Do Kwon, co-founder and CEO of Terraform Labs, and sent the case to the prosecution suggesting he be indicted. The suspect, whose identity has been withheld, allegedly entered the [...]
SEOUL, May 21 (Korea Bizwire) — A countless number of investors in two main tokens of Terraform Labs have lost their life savings due to a deceitful algorithm created by Do Kwon, the embattled cryptocurrency firm’s co-founder and CEO, a lawyer representing the investors claimed Friday. In an unprecedented black swan event, TerraUSD, a so-called [...]
SEOUL, May 20 (Korea Bizwire) — Prosecutors are looking into whether to bring Ponzi fraud charges against CEO Do Kwon of Terraform Labs, sources said Friday, a day after investors sued him over the shocking crash of the firm’s two cryptocurrencies. In a crash starting last week, Terraform’s two main tokens, TerraUSD and sister coin [...]
SEOUL, May 19 (Korea Bizwire) — A group of South Koreans who invested in two main tokens of Terraform Labs have sued Do Kwon, the embattled cryptocurrency firm’s co-founder and CEO, and co-founder Daniel Shin, a law firm representing the investors said Thursday. LKB & Partners said the complaints have been filed with the Seoul [...]
SEOUL, May 16 (Korea Bizwire) — A crypto investor accused of trespassing at the apartment of Do Kwon, co-founder and CEO of Terraform Labs, underwent a police investigation in Seoul on Monday. The suspect, whose identity has been withheld, allegedly entered the apartment complex in eastern Seoul last week and then rang the doorbell, looking [...]