Cryptocurrency entrepreneur Do Kwon, accused of fraud in connection with two digital currencies that lost an estimated $40bn, has been charged by US prosecutors. Korean national Kwon, who co-founded Terraform Labs and developed the TerraUSD and Luna currencies, is charged with securities fraud, commodities fraud, wire fraud and conspiracy, according to prosecutors. Kwon had been a fugitive and an arrest warrant was issued against him by South Korean authorities in September last year. The criminal charges followed similar US Securities and Exchange Commission charges against Kwon and Terraform last month.
TerraUSD founder Do Kwon indicted in US after arrest in Montenegro.
