According to Bloomberg, South Korean billionaire Kwon, 32, left Stanford University in 2015 with a computer science degree. His TerraUSD, an algorithmic stablecoin, and its sister token Luna experienced a significant increase in value during the pandemic. However, TerraUSD's implosion shook the digital token market globally, exacerbating a $2 trillion wipeout. Kwon's Terraform Labs has rejected the South Korean charges, stating that the case against him has become a 'billionaire.'