arrested
4,425 views
8 Posts
Hot
Latest
The founder of Terraform Labs, Do Kwon, appears to have been arrested in Montenegro, according to a tweet by the country's minister of interior, Filip Adzic.
#dokwon #arrested #terraluna #bullmarket #cryptoonindia
#dokwon #arrested #terraluna #bullmarket #cryptoonindia
Crypto Co-founder of Failed Terra USD and Luna Arrested for Fraud: A Cautionary Tale
#DoKwon #LUNA #LUNC #arrested #Terra
Do Kwon, the co-founder of the failed cryptocurrencies Terra USD (UST) and Luna (LUNA), has been arrested in Montenegro for attempting to enter the country with fake documents, according to the Minister of Foreign Affairs of Montenegro, Filip Adzic. Kwon has been on Interpol's red notice since September 2022 and is being sought by South Korea and the United States.
Kwon was allegedly involved in a multi-million-dollar cryptocurrency fraud and is accused of violating South Korea's Market Law, as well as organizing a Ponzi scheme to launder money and evade taxes. The US Securities and Exchange Commission (SEC) also filed a lawsuit against Kwon for his alleged involvement in the cryptocurrency fraud.
Kwon was the mastermind behind the algorithmic stablecoin terraUSD, which lost its parity with the US dollar, causing its twin currency, Luna, to lose much of its capitalization and collapse to zero dollars. This triggered an unprecedented crisis for investors, even affecting the cryptocurrency market.
The last known appearance of Kwon was in August 2022, during an interview in which he denied making any profit from the cryptocurrency's bankruptcy. "That's probably the silliest way to try to make a personal gain," he said at the time.
Kwon's arrest is a significant development in the investigation of the cryptocurrency fraud, and it remains to be seen what will happen to him next. However, it is a reminder that financial fraud is not exclusive to traditional finance, and investors should exercise caution when investing in cryptocurrencies.
Do Kwon, the co-founder of the failed cryptocurrencies Terra USD (UST) and Luna (LUNA), has been arrested in Montenegro for attempting to enter the country with fake documents, according to the Minister of Foreign Affairs of Montenegro, Filip Adzic. Kwon has been on Interpol's red notice since September 2022 and is being sought by South Korea and the United States.
Kwon was allegedly involved in a multi-million-dollar cryptocurrency fraud and is accused of violating South Korea's Market Law, as well as organizing a Ponzi scheme to launder money and evade taxes. The US Securities and Exchange Commission (SEC) also filed a lawsuit against Kwon for his alleged involvement in the cryptocurrency fraud.
Kwon was the mastermind behind the algorithmic stablecoin terraUSD, which lost its parity with the US dollar, causing its twin currency, Luna, to lose much of its capitalization and collapse to zero dollars. This triggered an unprecedented crisis for investors, even affecting the cryptocurrency market.
The last known appearance of Kwon was in August 2022, during an interview in which he denied making any profit from the cryptocurrency's bankruptcy. "That's probably the silliest way to try to make a personal gain," he said at the time.
Kwon's arrest is a significant development in the investigation of the cryptocurrency fraud, and it remains to be seen what will happen to him next. However, it is a reminder that financial fraud is not exclusive to traditional finance, and investors should exercise caution when investing in cryptocurrencies.
#Bitcoin #ATM owner #arrested in U.S. for fraud and money laundering
The CEO of Bitcoin for America was arrested in #Miami Beach last Thursday and will travel to Ohio to face several dozen criminal charges.
#nftcommunity #buildtogether
The CEO of Bitcoin for America was arrested in #Miami Beach last Thursday and will travel to Ohio to face several dozen criminal charges.
#nftcommunity #buildtogether
Do Kwon is also awaiting Montenegro's decision on whether to extradite him to the U.S. or South Korea.
The disgraced CEO of Terraform Labs, Do Kwon, was sentenced to four months in prison by a court in Montenegro for forging passports, according to an announcement Monday by the Basic Court of Podgorica.
Kwon was apprehended in March trying to use a fake Costa Rican passport to travel from Montenegro’s capital, Podgorica, to Dubai with the former CFO of Terraform Labs, Han Chang-joon, who also received a four-month sentence.
#dokwon #arrested #terraluna #crypto2023 #cryptoonindia
The disgraced CEO of Terraform Labs, Do Kwon, was sentenced to four months in prison by a court in Montenegro for forging passports, according to an announcement Monday by the Basic Court of Podgorica.
Kwon was apprehended in March trying to use a fake Costa Rican passport to travel from Montenegro’s capital, Podgorica, to Dubai with the former CFO of Terraform Labs, Han Chang-joon, who also received a four-month sentence.
#dokwon #arrested #terraluna #crypto2023 #cryptoonindia
On Friday, a federal court sentenced Joseph James O’Conner to five years in prison for his involvement in the 2020 Twitter hack.
Last month, the 24-year-old, known as PlugwalkJoe online, plead guilty to a host of cyber crimes, including carrying out a SIM-swapping attack that targeted a TikTok account with millions of followers.
The 2020 Twitter hack saw O’Conner and his co-perpetrators obtain access to the company’s backend and subsequently the accounts of Elon Musk, Bill Gates, Barack Obama and more than 100 other high-profile users. O’Conner netted $794,000 in the crypto scam that followed.
#twitter #crypto #scammers #arrested #cryptoonindia
Last month, the 24-year-old, known as PlugwalkJoe online, plead guilty to a host of cyber crimes, including carrying out a SIM-swapping attack that targeted a TikTok account with millions of followers.
The 2020 Twitter hack saw O’Conner and his co-perpetrators obtain access to the company’s backend and subsequently the accounts of Elon Musk, Bill Gates, Barack Obama and more than 100 other high-profile users. O’Conner netted $794,000 in the crypto scam that followed.
#twitter #crypto #scammers #arrested #cryptoonindia
According to the police, Anwar, who is a Class 12 pass-out, created an Instagram account called Crypto_Anaisha through which he had been allegedly duping people by claiming he could double their money in 30 to 35 minutes by investing it in crypto currency.
A day after The Indian Express reported on the arrest of a 21-year-old Kolkata-based man who allegedly duped several people by promising to “double their investment within minutes”, the Kalachowkie police on Saturday said three social media influencers have also been booked in the case.
The police said the social media influencers — Akshay Athare, Mansi Suravase and Ankita Bhagat — helped promote the crypto scamster Instagram account.
#crypto #scammers #arrested #india #cryptoonindia
A day after The Indian Express reported on the arrest of a 21-year-old Kolkata-based man who allegedly duped several people by promising to “double their investment within minutes”, the Kalachowkie police on Saturday said three social media influencers have also been booked in the case.
The police said the social media influencers — Akshay Athare, Mansi Suravase and Ankita Bhagat — helped promote the crypto scamster Instagram account.
#crypto #scammers #arrested #india #cryptoonindia
