Terra co-founder Do Kwon hiding out in Serbia, says authorities
South Korean authorities have requested cooperation from the Serbian government in order to bring Kwon back to face charges in South Korea.
South Korean authorities have requested cooperation from the Serbian government in order to bring Kwon back to face charges in South Korea.
As part of a broader inquiry into FTX’s collapse, federal prosecutors are looking at the role that FTX and Alameda may have played in the fall of Terra LUNA.
A retail investor group is trying to track down Terraform Labs co-founder Do Kwon following the crash of the Terra ecosystems’ cryptocurrencies.
A spokesperson for the company behind Terra said it believes prosecutors heeled to public pressure and expanded the definition of a security after its associated cryptocurrencies collapsed.
The Terraform Labs co-founder faces charges in South Korea relating to the crash of the Terra ecosystems’ cryptocurrencies.
It’s reported the bills’ definition will cover “endogenously collateralized stablecoins,” which depend on the value of an attached cryptocurrency from the same creator for it to maintain a stable price.
Kwon didn’t reveal his whereabouts in a series of Tweets responding to claims he fled Singapore after an arrest warrant was issued on Wednesday.
With over $2 billion lost in decentralized finance this year, there exists a huge market opportunity for crypto insurance providers, according to an executive.
The Foundation stated that it is “pursuing all legal remedies to maximize asset recovery.”
The USTC price rally does not mean it would reclaim its lost U.S. dollar peg in the future.