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A court in Montenegro approved a second bail request for Terraform Labs co-founder Do Kwon, who faces allegations of using fake passports.

The high court of Montenegro’s capital city Podgorica has revoked its decision to grant bail to Terraform Labs chief executive officer Do Kwon.

Montenegro prosecutors have filed an appeal against a local court decision to approve bail for the detained Terraform Labs CEO Do Kwon.

Terraform Labs chief Do Kwon denied charges of attempting to travel with fake travel documents during a court hearing Thursday in Montenegro.

Terraform Labs co-founder Shin Hyun-seung and seven others will face trial on May 26 on charges of fraud related to the Terra-Luna crypto collapse.

A South Korean court has approved prosecutors’ request to freeze assets and properties worth 233.3 billion Korean won that belong to Kwon.

The prosecutor leading Korea’s investigation into the Terra-Luna project said its founder Do Kwon should be extradited to Seoul to face trial.

South Korean prosecutors on Tuesday indicted Terraform Labs co-founder Daniel Shin for alleged fraudulent transactions related to the collapse of the Terra-Luna crypto project.

Kwon Do-hyeong will have a court hearing on May 11 in Montenegro on charges of allegedly attempting to travel using a false passport.

South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.

The founder of Terraform Labs, Do Kwon, reportedly retained a law firm in South Korea before the April 14 wipeout in TerraUSD’s value, according to a Bloomberg report.

The arrested crypto fugitive Kwon Do-hyung has “zero ” identifiable assets in his native South Korea, prosecutors said on Friday.

A South Korean court dismissed for the second time a request by prosecutors for an arrest warrant for Terraform Labs co-founder Daniel Shin.

The U.S. may have gained an edge in a race with South Korea to extradite Terra chief Kwon Do-hyung from Montenegro on charges of fraud.

Kwon Do-hyung will be held in Montenegro for a month on charges of using forged travel documents, South Korea’s Yonhap News reported.

South Korea’s police said they confirmed the identity of a man arrested in Montenegro, Europe, as the Terraform Labs co-founder Kwon Do-hyung, who is wanted on charges of fraud related to the collapse of the stablecoin and cryptocurrency project he led.

Terraform Labs co-founder Shin Hyun-seung, also known as Daniel Shin, was again called in for questioning by South Korea’s prosecutors on Monday.

South Korean prosecutors said they will expand cooperation with overseas legal agencies to facilitate the arrest and extradition of Do Kwon.

Former employees of Do Kwon’s Terraform Labs are being questioned by the FBI and U.S. prosecutors in New York.

Singapore’s police have begun investigations linked to Terraform Labs that was co-founded by fugitive Do Kwon, according to a Bloomberg report.

The U.S. SEC charged Singapore-based Terraform Labs and its chief Kwon Do-hyung for defrauding investors.

Prosecutors flew to Serbia earlier this month as part of an investigation into Terraform Labs chief Do Kwon, who faces fraud accusations related to the US$40 billion collapse of his Terra-Luna cryptocurrency project in May last year.

South Korea’s attempts to extradite the founder of the collapsed Terra-Luna stablecoin will remain hamstrung while the courts in Seoul dispute the charges against him.

A S.Korean court has approved prosecutors’ request to freeze assets of US$93.3 million belonging to seven former associates of Terraform Labs.

Interpol fugitive and chief of Terraform Labs Pte. Ltd. Kwon Do-hyung has registered his residential address in the Republic of Serbia.

Interpol fugitive Kwon Do-hyung flew to the Republic of Serbia last month, South Korean prosecutors told Forkast, confirming local media reports.

Federal prosecutors are reportedly investigating Sam Bankman-Fried for possible market manipulation that led to the Terra-LUNA crash in May

Seoul judge dismisses prosecutors’ request for arrest warrant for Terra’s Daniel Shin, derails their plan to investigate Shin in custody

Terra cofounder Daniel Shin attended a court hearing on Friday morning in South Korea that will decide on local prosecutors’ request to issue an arrest warrant.

A court in South Korea will review if prosecutors are allowed to arrest and bring Terraform cofounder Daniel Shin and seven others into custody, for charges including fraud.

South Korean prosecutors may charge Terraform Labs cofounder Daniel Shin with fraud for promoting the Terra stablecoin as a payment method despite multiple warnings from financial regulators that it was against the law.

FTX’’s failure to keep its sister company Alameda Research solvent was likely attributed to the liquidity crunch brought on by the Terra-LUNA collapse, according to Nansen.

Terra cofounder Daniel Shin reportedly told S.Korean prosecutors during an investigation on Thursday that he did not sell LUNA at a high point.

Terra’s former executive Daniel Shin’s US$100 million were frozen on Thursday; Do Kwon tweets that the Terra team did everything to save UST

Daniel Shin’s Chai Corporation, which partnered with Terraform Labs in 2019, is accused of violating capital market rules in past dealings with Terra.

Daniel Shin has been summoned by South Korean prosecutors to attend an investigation as a suspect for allegedly earning ill-gotten profits with LUNA.

Crypto exchanges and lending platforms are starting to use the dreaded F word for Freeze amid worries about the possible collapse of FTX.com, part of one of the world’s biggest cryptocurrency trading networks.

A hearing is scheduled in Singapore on a lawsuit filed against Terraform Labs’ Do Kwon on behalf of investors who lost about US$57 million in the collapse of Terra-LUNA.

The international police organization Interpol has launched its own metaverse to assist law enforcement in protecting communities in virtual realms. The development comes after wanted Terraform Labs cofounder Do Kwon quietly slipped from Singapore to Dubai and possibly elsewhere. See related article: India police launch blockchain-based complaint portal on Polygon  Fast facts Interpol claims theirs […]

Kwon Do-hyung, the cofounder and chief executive officer (CEO) of Terraform Labs Pte. Ltd., also known as Do Kwon, left Singapore last month and landed in Dubai, United Arab Emirates, South Korean prosecutors confirmed with Forkast.

The National Assembly wanted to get to the bottom of the Terra-LUNA collapse on Thursday. At the end of a long and speech-filled day, lawmakers left empty-handed.

Yoo (full name was not revealed), the head of general affairs at Terraform Labs Pte. Ltd. and close associate of unlocated chief executive officer (CEO) Kwon Do-hyung, or Do Kwon, has been released from custody since being arrested Thursday as part of an ongoing investigation into Terra-LUNA. Yoo is not contending his alleged association with […]

Widespread damage from the Terra-LUNA collapse can be attributed to a poor local regulatory framework, said Lee Sir-goo, CEO of South Korea’s blockchain and fintech company Dunamu Inc. at a special session of the National Assembly. See related article: S.Korea gov’t failed, special prosecutor needed on Terra-LUNA, lawmaker says Fast facts Lee appeared before lawmakers […]

Validators of Terra blockchain had no knowledge of the US$60 billion collapse of Terra-LUNA prior to the crash, said South Korean blockchain infrastructure provider DSRV Labs chief Kim Ji-yun. in response to the National Assembly’s parliamentary audit on the Financial Services Commission on Thursday. See related article: Terra CEO Do Kwon to lose his passport […]

South Korean prosecutors have arrested a Terraform Labs employee, in their first arrest under the investigation of the Terra-LUNA collapse. A bench warrant, which allows law enforcement to take suspects into custody, was issued on Wednesday for the arrested employee. See related article: Terra CEO Do Kwon to lose his passport within a month  Fast […]

South Korean ruling party lawmaker Yoon Sang-hyun asserted that the country needs to appoint a special prosecutor to investigate the Terra-LUNA collapse, which affected over 280,000 people locally, in comments at the National Assembly’s parliamentary audit on the Financial Services Commission (FSC), South Korea’s top financial regulator. See related article: South Korea’s investigation of Do […]

South Korea’s Ministry of Foreign Affairs posted a notice on its website on Wednesday saying the passport belonging to Terraform Labs Pte. Ltd. chief Kwon Do-Hyung, also known as Do Kwon, will be nullified in four weeks if Kwon does not return his passport. See related article: South Korea’s investigation of Do Kwon ‘unfair’: Terraform […]

Terraform Labs Pte. Ltd. cofounder Daniel Shin, or Shin Hyun-sung, has submitted a statement to South Korea’s National Assembly with reasons not to appear before lawmakers on Thursday as a witness in the Terra-LUNA meltdown, according to local news agency News1. See related article: Terraform cofounder Daniel Shin to testify in South Korean parliament Fast […]

South Korea’s National Assembly intends to get to the bottom of the Terra-LUNA debacle in its next audit in October along with several other issues surrounding the local crypto industry.

Terraform Labs Pte. Ltd., the firm behind the collapse of the Terra-LUNA stablecoin project said South Korean prosecutors’ measures in pursuing its chief executive officer Do Kwon violate his basic rights under Korean law.

Terra Classic (LUNC), the original crypto token of the Terra-LUNA blockchain that collapsed back in May, gained over 50% on Tuesday following an announcement by Binance, the world’s largest crypto exchange by volume, that it would support a burn mechanism for the network. See related article: For South Korea, making Do Kwon pay for his […]

Top blockchain and crypto news: Where is Do Kwon hiding out? Ethereum Merge mood fading fast. China’s digital yuan draws scrutiny Down Under.

Prosecutors investigating the man behind the US$37 billion wipeout of the Terra-LUNA cryptocurrency project are raising the stakes to get him back to South Korea.

South Korean prosecutors investigating the collapse of Terra-LUNA have issued an arrest warrant for Terraform Labs cofounder and chief executive officer Kwon Do-hyung, also known as Do Kwon, the Seoul Southern District Prosecutors’ Office told Forkast. See related article: Securities or not? South Korea to evaluate Terra’s LUNA token Fast facts “Violation of the capital […]

Identifying characteristics of securities in Terra’s tokens could help South Korea with new charges on Terraform Labs and CEO Do Kwon.

Bitcoin held onto gains above US$19,000 in late afternoon trading in Asia. Ethereum also rallied to post the biggest gain among tokens in CoinMarketCap’s top 10 by market capitalization. Terra Luna Classic surged more than 50%. See related article: Markets: Bitcoin climbs above $19,000, Ether bounces back, BNB gains on staking Fast facts Bitcoin rose […]

Bitcoin slid back down under the US$20,000 mark late afternoon in Asia, with the rest of the top 10 tokens by market capitalization turning lower. Terra’s fallen cryptocurrency surged, likely due to LUNA Classic’s recent network upgrade. See related article: Markets: Bitcoin edges up; U.S. stocks, bonds post worst returns in 5 decades Fast facts […]

Kim Seo-joon, head of South Korean blockchain venture capital (VC) fund Hashed, said in an interview with Bloomberg he lost most of his LUNA investments during the crash in May but is planning a third VC fund in the first half of 2023. See related article: Scarred by Terra-LUNA, South Korea moves ahead with digital […]

Terraform Labs and affiliates allegedly ramped up the numbers of its decentralized finance (DeFi) service Anchor Protocol by investing their own capital, a claim that South Korean prosecutors are currently looking into, state broadcaster KBS reported. See related article: S.Korea slaps ‘notification upon arrival’ on Terra’s Do Kwon Fast facts The local media outlet claims […]

Aiming to uncover the next “BTS in finance,” Chairman Kim Joo-hyun of the Korean Financial Services Commission (FSC) is calling for “bold reforms” in financial regulations, including in crypto assets.

South Korean prosecutors investigating Terra-LUNA have requested the Ministry of Justice to place a “notification upon arrival” on Terraform Labs chief executive officer Do Kwon and a travel ban on Terra cofounder Shin Hyun-seung, according to local media reports. See related article: South Korean prosecutors said to have raided Terra cofounder Shin’s residence Fast facts […]

South Korean prosecutors’ search and seizure campaign on Terra-LUNA and affiliates includes raiding the private home of Terraform Labs cofounder Daniel Shin, or Shin Hyun-seung, among others on Wednesday, local media reported. See related article: S.Korea prosecutors raid crypto exchanges as part of Terra-LUNA investigation Fast facts Shin, who founded Terraform Labs with current chief […]

South Korean prosecutors raided 15 companies, including seven cryptocurrency exchanges, on Wednesday as part of their investigation into the Terra-LUNA debacle. See related article: Terra subsidiary used as funds channel for overseas affiliates: report Fast facts “[The search and seizure] is to secure any physical evidence needed to prove the allegations,” Choi Sung-kook, prosecutor in […]

Celsius reveals it has a US$1.2 billion hole in its balance sheet. Meanwhile, a Terra subsidiary is under investigation by South Korean authorities.

South Korean prosecutors have reportedly identified what is believed to be a Terraform Labs subsidiary in South Korea, FLEXE Corporation, which was allegedly used to facilitate cash flow from overseas to Terra affiliates, according to KBS News. See related article: Terra’s S.Korean office closure ‘purely coincidental’: Do Kwon Fast facts Terraform Labs chief executive officer […]

In his first interview after the collapse of TerraUSD (UST) and its sister token LUNA in May, CEO Do Kwon dismissed allegations of fraud and told The Wall Street Journal, “There is a difference between failing and running a fraud.” See related article: Winning back the trust of the Terra community a tall order for […]

Prosecutors said they also wish to interview Terraform Labs Chief Executive Officer Kwon Do Hyung as part of an investigation into the multibillion dollar collapse of the company.

Terra’s LUNA/UST death spiral was entirely predictable — and it served as a stress test for better-designed stablecoins, writes Gytis Trilikauskis of MEV Capital.

To protect the country’s investors, South Korea’s top five crypto exchanges are forming a joint council to monitor the listing and delisting of cryptocurrencies. See related article: S. Korea finance regulator to audit Terra and related exchanges Fast facts Upbit, Bithumb, Coinone, Korbit and Gopax, five exchanges authorized to provide cash-to-crypto services in Korea, will […]

The order said Do Kwon and Terraform Labs had sufficient contact with the US for the Securities and Exchange Commission to investigate it for possible violations of federal securities laws.

Top blockchain and crypto news: Investors shun LUNA 2.0. Ethereum gains amid relief rally. China’s stimulus goes digital.

In its urgency to reign in the cryptocurrency industry in the wake of the Terra collapse, South Korea will launch a “Digital Asset Committee” by the end of June, according to a local news report. See related article: South Korean authorities cite LUNA debacle to call for speedier crypto oversight  Fast facts The committee will […]