Do Kwon Caught at Podgorica Airport

Do Kwon, co-founder of Terraform Labs, was arrested by Montenegro police at Podgorica airport while trying to board a flight to Dubai, according to Reuters. 

During the encounter, the Montenegrin police discovered forged Costa Rican passports and a Belgian passport in their luggage. The Montenegrin police formally charged the ex-Terra CEO along with a second suspect for allegedly forging official documents before a Podgorica court. 

After matching fingerprints with official records, South Korean police confirmed that Kwon was the suspect in Montenegro on Friday.

Within hours of Kwon's detention in Podgorica, the U.S. District Court in Manhattan made public an eight-count indictment against him. This includes two counts each of securities fraud, wire fraud, commodities fraud, and conspiracy. 

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Allegations Against Do Kwon by SEC

The recent criminal case followed last month's civil charges brought against Kwon and Terraform by the Securities and Exchange Commission.

According to SEC allegations, Do Kwon misled investors regarding TerraUSD's stability and failed to inform them that the coin's price fell below its dollar peg. The value of the token and its underlying cryptocurrency sank to near zero last May, resulting in a sell-off in cryptocurrencies such as Bitcoin, Ethereum, and Tether as a result. 

Additionally, the SEC claims that Kwon and Terraform falsely claimed Chai, a Korean mobile payment app, used the Terraform blockchain to process payments.

Worth noting that South Korean authorities issued an arrest warrant for Mr. Kwon last September after determining Terraform Labs had violated capital market regulations.

South Korean officials believed he was in Serbia and sent officials to Belgrade to negotiate since there was no extradition treaty between the two countries.

A Seoul prosecutor told CNN in December that the crypto entrepreneur hid in Serbia after leaving Singapore via Dubai. Kwon was based in Singapore while running the blockchain platform Terraform Labs.

The Beginning of the Uniswap Era on BNB Chain

Uniswap is making inroads into Decentralized Finance (DeFi) on BNB Chain, as the swap volume on the Decentralized Exchange (DEX) approaches the $50 million mark in the past week.

The weekly volume catapulted Uniswap into seventh place among all BNB Chain DEXes, which overall posted a decrease in exchange activity of more than 40% in the past week.

According to DefiLlama, the volume on Uniswap has hovered around $7 million per day since its launch on March 16.

In terms of Total Value Locked (TVL), Uniswap’s TVL of $10.5 million puts it in 13th place among BNB Chain DEXes.

The Battle of the DEXes on BNB Chain has just begun, but after 10 days Uniswap hasn’t yet registered as much more than a blip against dominant DEX PancakeSwap, posting about 3% of the PancakeSwap’s exchange volume and less than half a percent of PancakeSwap’s TVL.

So far ….

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What is BNB Chain:

Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.

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Find more about BNB Chain here:

Website | Twitter | Discord | Telegram | GitHub |

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What is PancakeSwap:

PancakeSwap is a multichain Decentralized Exchange (DEX) built on BNB Chain and available on Ethereum and Aptos. It offers users various features such as Liquidity Pools (LPs), swapping, yield farming, Syrup Pools, an Automated Market Maker, Initial Farm Offerings (IFOs), an NFT profile system, and other tools. In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on BNB Chain.

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Where to find PancakeSwap:

Website | Twitter | Medium | GitHub |

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What is Uniswap:

Uniswap was launched in November 2018 and has grown to become the largest decentralized exchange in its category. It was built open-source on the Ethereum blockchain and uses the AMM model to facilitate Ethereum ERC-20 token swaps.

Much of the progress made in Ethereum-based DeFi expansion is attributable to Uniswap as it provided the market-making utility for Web3 apps to function in a decentralized environment. The platform consistently records daily trade volumes of over half a billion dollars and has a total volume locked (TVL) of more than $3 billion. The platform has traded over $1 trillion since it launched via over 129 million transactions.

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Where to find Uniswap:

Website | Twitter | Discord |

Top Product on Pi Network 

Since Pi Chain Mall (PCM) reopened the withdrawal function on March 1, numerous users have shown interest in utilizing the feature to withdraw their Pi coins. The top Pi Network product recorded a new milestone on March 25. 

PCM’s withdrawal function was established to ensure sellers withdraw their real Pi holdings from its large e-commerce marketplace. According to the PCM official Twitter page, over 316,000 Pi coins have been withdrawn by users. 

The PCM marketplace is the largest on Pi Network. The protocol allows merchants to place items for sale and receive Pi payments. Through the function, numerous merchants have been able to withdraw profit gained from the platform through sales. 

Pioneers can join the PCM mainnet platform by visiting (pipcm.com) on the Pi Browser application and start trading products with Pi coins. 

What is Pi Network:

Pi Network is a novel cryptocurrency and developer platform allowing mobile users to mine Pi coins without draining the battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a full Web 3.0 experience where community developers can build decentralized applications (Dapps) for millions of users.

Where to find Pi Network:

Website | Twitter | LinkedIn | Facebook | Instagram |

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Major Tech & Web3 Support

BNB Chain has announced the Zero2Hero Hackathon, the second phase of its six-month online Bootcamp-Hackathon-Incubator program.

The hackathon will take place from April 17th to May 14th, and has garnered support from Amazon Web Services (AWS), Google Cloud, and Tencent Cloud as key strategic technology partners. The event aims to bring together blockchain professionals and developers from around the world to collaborate on projects and solutions that will help advance the blockchain industry.

We spoke to the team to understand more about the exciting development:

“As part of the 6-month Builder Series, the Zero2Hero Hackathon is an exciting opportunity for developers to showcase their skills and compete with the best in the industry. With the support of our strategic technology partners, including AWS, Google Cloud and Tencent Cloud, as well as our Web3 partners such as Chainlink Labs and Axelar, we are excited to bring together a community of talented developers and innovative projects,” said Zoe Wei, Head of Developer Relations at BNB Chain.

BNB Chain has also partnered with several leading Web3 companies for this hackathon, including Chainlink Labs, Axelar, Nodereal, Polyhedra, Hacken, RSS3, and Port3. The hackathon will feature seven tracks, including DeFi, Infra & Scalability, SocialFi, Cross-chain, NFT, Gamify & Metaverse, Greenfield and Innovation. Participants will compete for cash prizes of $15k for 1st place, $6k for 2nd place, and $4k for 3rd place in each track.

During the hackathon, nearly 20 technical workshops will be provided where hackers can learn the latest technologies. Free access to multiple dev resources such as cloud and node services will be available, and the calendar of the tech teams of partners will be open for hackers to book office hours. The judging criteria will lean towards full MVPs projects, although a clean and creative implementation of the feature serving as an excellent example of feature usage is also acceptable.

The 6-Month Builder Series, focused on accelerating Web3 development, commenced its initial phase in February with a Bootcamp featuring sessions in multiple languages. The series will be held in partnership with the Blockchain Center, established by Astana Hub, the largest technopark in Central Asia, and the Payment and Financial Technologies Development Center of the National Bank of Kazakhstan. Other partners included the Blockchain Academy Group, a Hong Kong government-backed program, and Encode Club, a leader in Solidity training.

What is BNB Chain:

Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.

Find more about BNB Chain here:

Website | Twitter | Discord | Telegram | GitHub |

Recapping the Week in DeFi

Cryptocurrency never sleeps, and neither does crypto news and content. Because of this constant stream of information, it’s difficult for investors to keep track of the most notable news. In this weekly recap, BSC News shares some of the most exciting stories and breaking news events of the week to help you stay up-to-date on all things DeFi.

Arbitrum Airdrop: Which DAOs Received the Most $ARB?

The Arbitrum airdrop was arguably one of the most notable DeFi events from the past week. Projects with a DAO and community treasury also received the airdrops, with the exception of The Protocol Guild. A number of factors were considered for eligibility, including deployment date, transaction volume, and more.

Get all the details in this article.

MetaMask Institutional Unveils New Portfolio Dashboard, ETH Staking Marketplace

MetaMask Institutional launched an advanced version of its Web3 portfolio dashboard for institutional investors featuring cutting-edge tools, including an ETH staking marketplace. 

Find more information here.

Core DAO’s Core Bridge Goes Live, Confirms Huobi as Validator

Core DAO has finally launched its highly anticipated Core bridge, paving way for the growth of the Core ecosystem in the decentralized finance (DeFi) world. Powered by LayerZero, the bridge allows users to seamlessly transfer assets between the Core chain and other leading networks. Core DAO has also confirmed Huobi as a validator. 

Find more details in this article. 

Celer Unveils Brevis: ‘A ZK Ominchain Data Attestation Platform’

Going deep into ZK: Celer Network has launched Brevis, a “Zero-Knowledge (ZK) omnichain data attestation platform” enabling smart contracts to access and compute data from any blockchain.

Learn more about Celer’s ZK solution in this article. 

Polygon, Immutable Partner to Build Dedicated Gaming ZK EVM Blockchain

Polygon Labs and Immutable have collaborated to build “Immutable zkEVM”, a zero-knowledge rollup dedicated to gaming. The new solution will have enforceable royalty fees for game developers. 

Get all the details here. 

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