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Terraform Labs CEO Sells Crypto Assets for $2.8 Million Before Release on Bail in Montenegro Amid Fraud Charges and LUNC Crypto Decline

Terraform Labs CEO Do Kwon has sold LUNC and USDT crypto assets worth $2.8 million before being released on bail in Montenegro. These funds are believed to be linked to the collapsed Terra-Luna project that caused over $40 billion in losses to the crypto market. Kwon and his associate Han Chong-joon are facing extradition to Montenegro and fraud charges in South Korea and the US.

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