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Do Kwon in his firm’s workplace in Seoul in 2022 © Bloomberg

Do Kwon, the South Korean crypto entrepreneur behind the $40bn implosion of terraUSD and luna digital tokens final yr, has been charged within the US with fraud, hours after he was arrested in Montenegro.

In a 12-page indictment revealed on Thursday, US prosecutors accused Kwon of defrauding crypto prospects by “deceiving these people about points of the Terra blockchain, together with its expertise and the extent to which it had been adopted by customers”.

Kwon, who faces eight felony counts together with securities, commodities and wire fraud, repeated deceptive claims in a TV interview in October 2019 in addition to in a social media publish the next yr, prosecutors alleged.

A lawyer for Kwon didn’t instantly reply to a request for remark.

Learn extra on Do Kwon right here.

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