🚨🚨 Terra's ($LUNC , $LUNA , $USTC ) Parent Company Terraform Labs and Do Kwon Accepted Settlement with SEC!

💈According to the latest information, Do Kwon, the founder of Terra (LUNA), and Terraform Labs have agreed to settle with the SEC.

💈Terraform Labs, based in Singapore, and its founder Do Kwon have reached a temporary agreement with the U.S. Securities and Exchange Commission (SEC).

As revealed in a recent court filing, the regulatory agency's lawsuit alleged that the company misled investors before the collapse of its stablecoin TerraUSD in 2022.

💈Do Kwon is currently detained in Montenegro. The Montenegrin High Court ruled in early April that the decision on extradition should be made by the justice minister, not the court. This decision came after plans to extradite Kwon to South Korea in March were met with opposition from Montenegro prosecutors.

💈Terraform Labs and Kwon were found guilty of civil fraud by a U.S. jury in a lawsuit initiated by the SEC in February 2023. The case centered around the algorithmic stablecoin Terra USD (UST), which dramatically collapsed a year earlier.

💈Kwon was arrested in Montenegro the previous March for traveling with forged travel documents.

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