The cryptocurrency industry has seen its fair share of highs and lows, but the recent news about South Korea’s “cryptocrash king” Do Kwon has shocked the industry. Kwon, the co-founder of TerraUSD, and his former CFO have been sentenced to four months on charges of passport fraud. TerraUSD is a blockchain-based digital asset that collapsed and a split featuring Terra Luna Classic (LUNC) and Terra Luna 2.0 led by Do Kwon occurred.
Terra Luna News
The Terra Luna news of Kwon’s arrest caused concern for investors and industry experts. This news comes as a whiff of Avorak AI, a new project specializing in blockchain and AI analytics, revealed that it can track wallets and it can help track Kwon’s TerraUSD wallets to determine if there is evidence of fraudulent activities. The developments have stirred up questions about the accountability and transparency of cryptocurrencies and highlight the role of emerging technologies like AI in detecting and preventing fraud.
Who is Do Kwon?
Do Kwon is Terraform Labs’ founder, a cryptocurrency venture that created the TerraUSD stablecoin and the associated Luna token. Do Kwon has been sentenced to four months in jail in Montenegro for forging travel documents. Kwon is also wanted for securities fraud by US regulators. The collapse of TerraUSD stablecoin and the associated Luna token led to huge loses. Kwon also faces charges in the US and South Korea. Terra Luna News reports that Montenegro has confirmed it will investigate and extradite within six months. Kwon and his former Chief finance officer may appeal the decision.
Avorak AI
Avorak AI (AVRK) is an AI crypto project specializing in blockchain and AI analytics, and it can track wallets and detect unusual activity in the cryptocurrency market. By analyzing market trends, patterns, and data, it can identify potential threats and prevent fraud before it happens. The use of AI in detecting and preventing fraudulent activities in the cryptocurrency industry is becoming increasingly paramount as cryptocurrencies continue to gain mainstream attention and adoption. Avorak Trade Bot helps crypto traders execute complex tasks, including analyzing voluminous data, monitoring markets 24/7, and processing vast data. The tool is instrumental in providing accurate price predictions and making prudent decisions.
Avorak ICO is in the final phase eight, having surged by an impressive 350% to $0.27 per AVRK token. Its extraordinary run has impressed crypto watchers, investors, and analysts, describing the project as, having the potential to explode.
Avorak Write is a writing assistant that helps users in the content creation space. It strives to address the repetitive and plagiarism challenges of the existing AI content generators. It employs a pre-written language bank that helps edit, proofread, and auto-correct text before releasing the final output to users.
Wrap Up
Avorak AI’s advanced algos can retract historical data to analyze anomalies and could help unravel the collapsed TerraUSD genesis.
Learn more about Avorak and ICO here:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.