Do Kwon arrested, end of the run for the most hated man in the cryptocurrency world

Do Kwon, the founder of Terraform Labs, was arrested by authorities in Montenegro on March 24, 2023. This arrest is related to an investigation into

Highlights

Do Kwon, the founder of Terraform Labs, was arrested by authorities in Montenegro on March 24, 2023.
This arrest is related to an investigation into allegations of tax evasion, money laundering and other suspected financial crimes.
The South Korean was reportedly caught with his CFO Hon Chang Joon.
The extent of the losses linked to the Terra Luna project is now estimated at 500 billion dollars.
Terra Luna token collapsed causing TerraUSD to depeg (de-index with the dollar) Altcoins like bitcoin, the whole crypto market then collapsed into the abyss.
The company claimed that its stablecoin TerraUSD was backed by cryptos, including 80,000 bitcoins.

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