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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.
🇵🇰Pakistani Web Developer Arrested for Spreading Fake News
In a significant crackdown on misinformation, Pakistani authorities have arrested Farhan Asif, a web developer from Lahore, for allegedly spreading fake news that fueled anti-immigration and anti-Muslim riots in Southport.
The Incident:
Following the recent stabbings in Southport, a sensationalist website, Channel3Now, published a false report claiming the attacker was a 17-year-old asylum-seeker named Ali al-Shakati. The misinformation quickly went viral on social media, sparking widespread unrest, violence, and hatred towards immigrant and Muslim communities.
Investigation and Arrest:
After tracing the origins of the fake news, Pakistani authorities arrested Farhan Asif, accusing him of working for Channel3Now and creating the inflammatory content. Asif denies writing the article, blaming a mistake by his team members, who have since been terminated.
Consequences of Misinformation:
The spread of fake news has severe consequences, including:
♦️ Inciting violence and hatred
♦️ Putting lives at risk
♦️ Damaging communities and social harmony
♦️ Eroding trust in media and institutions
Crackdown on Misinformation:
The arrest of Farhan Asif serves as a warning to those spreading misinformation. Authorities must continue to:
1. Monitor and regulate online content
2. Hold perpetrators accountable
3. Promote fact-checking and media literacy
4. Foster a culture of responsible journalism
The Way Forward:
As we navigate the complexities of the digital age, it's essential to:
1. Verify information before sharing
2. Support credible sources
3. Encourage critical thinking
4. Demand accountability from media outlets and individuals
Together, we can combat misinformation and promote a more informed, inclusive, and harmonious society.
Stay Informed, Stay Vigilant.
#FakeNews #Pakistan #arrested #Accountability #BinanceLaunchpoolDOGS
The Incident:
Following the recent stabbings in Southport, a sensationalist website, Channel3Now, published a false report claiming the attacker was a 17-year-old asylum-seeker named Ali al-Shakati. The misinformation quickly went viral on social media, sparking widespread unrest, violence, and hatred towards immigrant and Muslim communities.
Investigation and Arrest:
After tracing the origins of the fake news, Pakistani authorities arrested Farhan Asif, accusing him of working for Channel3Now and creating the inflammatory content. Asif denies writing the article, blaming a mistake by his team members, who have since been terminated.
Consequences of Misinformation:
The spread of fake news has severe consequences, including:
♦️ Inciting violence and hatred
♦️ Putting lives at risk
♦️ Damaging communities and social harmony
♦️ Eroding trust in media and institutions
Crackdown on Misinformation:
The arrest of Farhan Asif serves as a warning to those spreading misinformation. Authorities must continue to:
1. Monitor and regulate online content
2. Hold perpetrators accountable
3. Promote fact-checking and media literacy
4. Foster a culture of responsible journalism
The Way Forward:
As we navigate the complexities of the digital age, it's essential to:
1. Verify information before sharing
2. Support credible sources
3. Encourage critical thinking
4. Demand accountability from media outlets and individuals
Together, we can combat misinformation and promote a more informed, inclusive, and harmonious society.
Stay Informed, Stay Vigilant.
#FakeNews #Pakistan #arrested #Accountability #BinanceLaunchpoolDOGS
🚨 PAVEL DUROV: THE U.S. WANTED TO CONTROL TELEGRAM BETTER
“We get too much attention from the FBI and other security agencies whenever we come to the U.S.
The last time I was in the U.S., I brought an engineer who works for Telegram.
There was an attempt by cybersecurity officers or agents to secretly hire my engineer behind my back.
They were curious to learn which open-source libraries are integrated into Telegram's app, and they tried to persuade him to use certain open-source tools that would serve as backdoors.
I personally experienced similar pressure in the U.S. Whenever I would go to the U.S., I would have two FBI agents greet me at the airport, asking questions.
My understanding is that they wanted to establish a relationship to control Telegram better.”
Source: The Tucker Carlson Interview
$TON
#PavelDurov #Telegram #arrested #Write2Earn!
“We get too much attention from the FBI and other security agencies whenever we come to the U.S.
The last time I was in the U.S., I brought an engineer who works for Telegram.
There was an attempt by cybersecurity officers or agents to secretly hire my engineer behind my back.
They were curious to learn which open-source libraries are integrated into Telegram's app, and they tried to persuade him to use certain open-source tools that would serve as backdoors.
I personally experienced similar pressure in the U.S. Whenever I would go to the U.S., I would have two FBI agents greet me at the airport, asking questions.
My understanding is that they wanted to establish a relationship to control Telegram better.”
Source: The Tucker Carlson Interview
$TON
#PavelDurov #Telegram #arrested #Write2Earn!
Did Do Kwon Move $62 Million in Bitcoin While Awaiting Extradition? 🥶
As the legal drama surrounding #Terraform Labs co-founder Do Kwon intensifies, new developments suggest he may have had access to a significant amount of Bitcoin despite being under house arrest in Montenegro. On September 2, 2024, more than 1,075 Bitcoin—valued at roughly $62 million—was mysteriously transferred from a wallet linked to Terraform Labs. The big question: Did Kwon, who is caught in an extradition tug-of-war between the US and South Korea, orchestrate the move?
This revelation adds another twist to Kwon's already tumultuous saga. Following the collapse of the Terra ecosystem in 2022, Kwon was #arrested in Montenegro in 2023 and briefly imprisoned. Since his release, he has been navigating a complex legal landscape as both the US and South Korea vie to extradite him. While authorities scramble for answers, the crypto world is left wondering—what is Do Kwon’s next move?
If you enjoy my content, feel free to tip me ❤️
#Binance
#crypto2024
As the legal drama surrounding #Terraform Labs co-founder Do Kwon intensifies, new developments suggest he may have had access to a significant amount of Bitcoin despite being under house arrest in Montenegro. On September 2, 2024, more than 1,075 Bitcoin—valued at roughly $62 million—was mysteriously transferred from a wallet linked to Terraform Labs. The big question: Did Kwon, who is caught in an extradition tug-of-war between the US and South Korea, orchestrate the move?
This revelation adds another twist to Kwon's already tumultuous saga. Following the collapse of the Terra ecosystem in 2022, Kwon was #arrested in Montenegro in 2023 and briefly imprisoned. Since his release, he has been navigating a complex legal landscape as both the US and South Korea vie to extradite him. While authorities scramble for answers, the crypto world is left wondering—what is Do Kwon’s next move?
If you enjoy my content, feel free to tip me ❤️
#Binance
#crypto2024
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
