The Rise and Fall of Do Kwon: How the TerraUSD Collapse Led to a $40 Billion Loss and a Global Manhunt for the Fugitive Crypto Founder
-
Do Kwon's Terraform Labs crashed in May 2022, losing investors $40 billion as its tokens Luna and TerraUSD devalued.
-
After investigations began, Kwon fled Singapore for Dubai, then Serbia, evading authorities.
-
While a fugitive, Kwon was active on social media, did interviews, and started a new company called Terra Rebirth League.
-
Kwon lived lavishly in Belgrade, meeting with politicians including future PM Milojko Spajic.
-
Both South Korea and the US now want to extradite Kwon, who may share a jail with Sam Bankman-Fried.