Kwon Do-Hyung, more commonly known as Do Kwon, is the South Korean co-founder and CEO of Singapore-based Terraform Labs, the parent company of crashed stablecoin TerraUSD and cryptocurrency Luna which crashed in 2022.

Do Kwon: The Most Evil Man In Crypto

This entire saga has its roots back in May 2022 when the Terra USD (UST) stablecoin lost its peg to the U.S. dollar. The subsequent collapse of the Terra ecosystem caused a major implosion in the digital asset market, with losses of nearly $40 billion.

Terraform Labs has also been investigated by authorities in South Korea, where a warrant was issued for Kwon’s arrest. South Korean police traveled to Serbia in their efforts to locate Kwon.

On Feb. 15, South Korean prosecutors requested a warrant to arrest a local e-commerce executive who they accused of accepting Terra (LUNA) for promoting Terra Labs.

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