US charges fugitive crypto exec Do Kwon with eight counts of fraud

Do Kwon, the founder of Terraform Labs and creator of the collapsed stablecoin Terra, has been charged with eight counts of fraud by federal prosecutors in the Southern District of New York, including “wire fraud, commodities fraud, securities fraud, and conspiracy to defraud and engage in market manipulation,” according to The New York Times. Prosecutors have told the media that they will seek Kwon’s extradition.

The charges follow his apparent arrest in Montenegro on Thursday, which was first reported through social media posts by Montenegro Minister of the Interior Filip Adzic on Twitter (where he’s unverified, whether by Twitter Blue or legacy means), and on Facebook (where he is verified, but Facebook’s blue checks have been wrong…

Continue reading…