The day after his arrest in Montenegro, he was formally charged. The South Korean founder of the cryptocurrency Terra, Do Kwon, and his financial director, are worried by the justice for falsification of documents. "A complaint has been filed against the two people for the crime of falsifying documents," Montenegrin police said.

A spectacular collapse

Do Kwon is the founder of Terraform Labs, the parent company of the "stable cryptocurrency" Terra that collapsed in May 2022. He is accused of fraud in this crash that caused investors to lose about $ 40 billion (37 billion euros). Shortly after his arrest, a U.S. federal jury convicted Do Kwon on eight counts, including stock market fraud and online fraud.

In South Korea, where prosecutors announced Friday that Seoul would seek his extradition, Kwon is also wanted for violations of financial market rules. He is suspected of having fled the country for Singapore at the time of the crash of May 2022.

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