Do Kwon, the South Korean crypto entrepreneur behind the $40bn implosion of terraUSD and luna digital tokens final 12 months, has been charged within the US with fraud, hours after he was arrested in Montenegro.

In a 12-page indictment revealed on Thursday, US prosecutors accused Kwon of defrauding crypto prospects by “deceiving these people about features of the Terra blockchain, together with its know-how and the extent to which it had been adopted by customers”.

Kwon, who faces eight legal counts together with securities, commodities and wire fraud, repeated deceptive claims in a TV interview in October 2019 in addition to in a social media put up the next 12 months, prosecutors alleged.

A lawyer for Kwon didn’t instantly reply to a request for remark.

Learn extra on Do Kwon right here.