Despite the recent tragedy of Do Kwon the co-founder of the Terraform Lab, there’s no doubt that he played or made a huge impact on the growth of the TerraForm company, like making the company’s vision come true at a point, securing partnerships for the company, and even securing funds. He played a key role in transforming and making the company successful along with creating or implementing the Terra protocol to create a stable digital currency ecosystem.
However, one would say he destroyed everything he has built, his name, reputation, and wealth and this all happened with the fall of LUNA which wiped out 40 billion dollars from the cryptocurrency market. Do Kwon was charged with conspiracy to commit fraud such as commodities and wire fraud because they believed he knew that the crash would happen, and he transferred millions of dollars worth of crypto out before the crash? That's a lot to take in.
When he knew he was going to be arrested he tried flying out of the US to his home country South Korea, but he was arrested in Montenegro after some time he was granted bail of $427,900 but he remains in police custody and that doesn’t make him free from other jurisdictions.
However, there have been reports that he has again been sentenced to four months in prison because when he tried to leave the country, he was arrested with a fake Costa Rican passport and forged documents. To make matters worse he claimed that he had been using it for years and he didn’t know it was fake because he got the passport and documents from third-party agencies.
The tragedy and demise of Do Kwon continue…..