Do Kwon Arrested: The Rise and Fall of a Crypto Scammer
• Do Kwon, the founder of the Terra blockchain, was arrested in Montenegro last week.
• His collapse of Terra blockchain in May had caused a crypto rout and destabilized crypto lenders and hedge funds.
• CoinDesk’s Chief Insights Columnist David Z. Morris examines the questions that remain after Do Kwon’s arrest.
Do Kwon’s Arrest Sparks Questions
Do Kwon, the founder of Terra blockchain, was arrested in Montenegro last week for alleged fraud activities which have left many with lingering questions about his case. His collapse of Terra blockchain in May of 2021 had caused a crypto rout and destabilized crypto lenders and hedge funds like Celsius Network and Three Arrows Capital. CoinDesk’s Chief Insights Columnist David Z. Morris examines what these questions are and what we may learn from Do Kwon’s arrest moving forward.
The Proximate Catalyst for 2022 Crypto Rout
Do Kwon is widely credited as being the proximate catalyst for 2022’s crypto rout after his collapse of Terra blockchain in May 2021 shook up the market to its core. For those who need a refresher on this dramatic story, a podcast series called “Lunacy: The Rise and Fall of Do Kwon” provides an entertaining overview of events thus far.
Questions About Do Kwon’s Arrest
Now that Do Kwon has been arrested, it leaves many wondering why he fled to Serbia in December as South Korean police reported then, before ultimately being apprehended in neighboring Montenegro? What other information will be revealed about his activities now that he is facing charges? These are just some of the questions that remain unanswered with regards to this case moving forward.
Answers Expected From Upcoming Developments
It is likely that further developments will help answer some of these lingering questions related to Do Kwon’s arrest, but time will tell if we can expect any resolution soon or if more details will come out gradually over time as they did prior to his apprehension by authorities abroad.
More Information To Come
No matter what happens next regarding Do Kwon’s case, one thing is certain – there will be plenty more information coming out soon as prosecutors continue building their case against him and giving us all greater insight into this fascinating saga involving cryptocurrency fraudsters across multiple countries around the world.