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📣 Terraform Labs, founder Do Kwon likely face $5.3 billion fines on the two year anniversary of the crisis
🔸 Two year anniversary of Do Kwon’s promise to deploy more capital
On May 9, Do Kwon assured the Terraform community that he is deploying more capital to tackle the de-peg of algorithmic stablecoin UST. On May 11, Kwon presented a strategy to re-establish UST’s peg. Kwon’s tweet from 2022 has resurfaced on X.
In the two years since Kwon’s tweet, the US Securities and Exchange Commission (SEC) has asked a New York court to impose $5.3 billion fines on Terraform Labs and founder Do Kwon. The regulator has asked for a hefty penalty for the entities role in the $40 billion implosion of the Terraform ecosystem tokens.
The SEC has asked for $4.74 billion in legally mandated repayment of ill-gotten gains, and another $420 million from Terraform Labs and $100 million from the founder Kwon. The US financial regulator has justified the fines as a “conservative” but reasonable approximation of Terraform Labs and Do Kwon’s gains from the fraud.
The court ruled that the two parties were found liable on civil fraud charges and court documents revealed $65.2 million sales of LUNA to institutional investors. The Luna Foundation Guard sold $1.8 billion of LUNA and UST.
The collapse of the Terraform ecosystem, Kwon’s “ill-gotten gains” and the court fines are the aftermath of the $4 billion implosion in 2022 that tore down the glass houses of several crypto trading firms, lenders and resulted in a series of bankruptcies throughout 2022 and 2023.
🔸 Terra Foundation restricts access to TFL products for US based users
In the light of recent court developments, the Terra Foundation made changes to its operations and announced that it will restrict access to some of its products and features for users in the United States. Open-source projects that TFL contributed to, such as the Terra blockchain and Alliance, remained unaffected.
$LUNC #TerraLabs #DoKwon #LUNC
🔸 Two year anniversary of Do Kwon’s promise to deploy more capital
On May 9, Do Kwon assured the Terraform community that he is deploying more capital to tackle the de-peg of algorithmic stablecoin UST. On May 11, Kwon presented a strategy to re-establish UST’s peg. Kwon’s tweet from 2022 has resurfaced on X.
In the two years since Kwon’s tweet, the US Securities and Exchange Commission (SEC) has asked a New York court to impose $5.3 billion fines on Terraform Labs and founder Do Kwon. The regulator has asked for a hefty penalty for the entities role in the $40 billion implosion of the Terraform ecosystem tokens.
The SEC has asked for $4.74 billion in legally mandated repayment of ill-gotten gains, and another $420 million from Terraform Labs and $100 million from the founder Kwon. The US financial regulator has justified the fines as a “conservative” but reasonable approximation of Terraform Labs and Do Kwon’s gains from the fraud.
The court ruled that the two parties were found liable on civil fraud charges and court documents revealed $65.2 million sales of LUNA to institutional investors. The Luna Foundation Guard sold $1.8 billion of LUNA and UST.
The collapse of the Terraform ecosystem, Kwon’s “ill-gotten gains” and the court fines are the aftermath of the $4 billion implosion in 2022 that tore down the glass houses of several crypto trading firms, lenders and resulted in a series of bankruptcies throughout 2022 and 2023.
🔸 Terra Foundation restricts access to TFL products for US based users
In the light of recent court developments, the Terra Foundation made changes to its operations and announced that it will restrict access to some of its products and features for users in the United States. Open-source projects that TFL contributed to, such as the Terra blockchain and Alliance, remained unaffected.
$LUNC #TerraLabs #DoKwon #LUNC
Terraform Labs and co-founder Do Kwon, after being found liable for fraud by a New York jury last month, told a judge they shouldn’t have to pay the $5.3 billion fine requested by US regulators.
#DoKwon #TerraLabs
#DoKwon #TerraLabs
🌖 Do Kwon, Terraform Labs Face $5B Penalty After LUNA Fiasco
The United States Securities and Exchange Commission (SEC) has moved to request billions of dollars in disgorgement and civil penalties from Do Kwon and Terraform Labs, the team behind the ill-fated Terra Luna and UST tokens.
In a recent filing in the U.S. District Court for the Southern District of New York, the SEC sought approximately $4.7 billion in disgorgement and prejudgment interest from #TerraformLabs and its co-founder, Do Kwon.
Alongside the $4.7 billion for disgorgement and prejudgment, the U.S. regulator requested a total of $520 million in civil penalties. In particular, Terraform Labs is asked to pay $420 million, while Kwon faces a $100 million penalty. Cumulatively, the U.S. regulator is requesting over $5 billion in penalties from #DoKwon and Terraform Labs.
Notably, on April 5, a jury found Terraform and Kwon guilty of defrauding investors concerning statements regarding the offer and sale of TerraUSD (UST), Luna ($LUNA ), and wLUNA. Meanwhile, Terraform suggested a maximum civil penalty of $5.28 million in its filing, while Kwon proposed approximately $828,000.
On the other hand, in addition to the monetary judgment, the SEC has suggested barring Kwon from holding positions as an officer or director and mandating full disclosure of his accounts and assets.
If approved, Terraform could face a “conduct-based injunction” to prevent the recurrence of the behaviors that led to the extensive fraud. However, these proposed remedies and the civil judgment await the ruling of a judge.
Furthermore, the SEC argued that #Terraform and #kwon have shown no remorse for their actions, raising significant concerns about the potential for further violations, which the regulator claims may already be in progress. The filing urges the court to send a clear message that such audacious misconduct will not be tolerated.
#ScamRiskWarning
The United States Securities and Exchange Commission (SEC) has moved to request billions of dollars in disgorgement and civil penalties from Do Kwon and Terraform Labs, the team behind the ill-fated Terra Luna and UST tokens.
In a recent filing in the U.S. District Court for the Southern District of New York, the SEC sought approximately $4.7 billion in disgorgement and prejudgment interest from #TerraformLabs and its co-founder, Do Kwon.
Alongside the $4.7 billion for disgorgement and prejudgment, the U.S. regulator requested a total of $520 million in civil penalties. In particular, Terraform Labs is asked to pay $420 million, while Kwon faces a $100 million penalty. Cumulatively, the U.S. regulator is requesting over $5 billion in penalties from #DoKwon and Terraform Labs.
Notably, on April 5, a jury found Terraform and Kwon guilty of defrauding investors concerning statements regarding the offer and sale of TerraUSD (UST), Luna ($LUNA ), and wLUNA. Meanwhile, Terraform suggested a maximum civil penalty of $5.28 million in its filing, while Kwon proposed approximately $828,000.
On the other hand, in addition to the monetary judgment, the SEC has suggested barring Kwon from holding positions as an officer or director and mandating full disclosure of his accounts and assets.
If approved, Terraform could face a “conduct-based injunction” to prevent the recurrence of the behaviors that led to the extensive fraud. However, these proposed remedies and the civil judgment await the ruling of a judge.
Furthermore, the SEC argued that #Terraform and #kwon have shown no remorse for their actions, raising significant concerns about the potential for further violations, which the regulator claims may already be in progress. The filing urges the court to send a clear message that such audacious misconduct will not be tolerated.
#ScamRiskWarning
💵 𝗦𝗘𝗖 𝗦𝗲𝗲𝗸𝘀 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗶𝗻 𝗙𝗶𝗻𝗲𝘀 𝗳𝗿𝗼𝗺 𝗧𝗲𝗿𝗿𝗮𝗳𝗼𝗿𝗺, 𝗗𝗼 𝗞𝘄𝗼𝗻
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
🤑𝙂𝙀𝙏 𝙁𝙍𝙀𝙀 𝙍𝙀𝙒𝘼𝙍𝘿 𝙐𝙋𝙏𝙊 8$ 𝙐𝙎𝘿𝙏 𝘼𝙉𝘿 𝙋𝙀𝙋𝙀 𝘾𝙊𝙄𝙉𝙎 𝙁𝙍𝙊𝙈 𝙈𝙔 𝙏𝙒𝙊 📌 𝙋𝙄𝙉𝙉𝙀𝘿 𝙋𝙊𝙎𝙏𝙎💰🤑💸
💵 𝗦𝗘𝗖 𝗦𝗲𝗲𝗸𝘀 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗶𝗻 𝗙𝗶𝗻𝗲𝘀 𝗳𝗿𝗼𝗺 𝗧𝗲𝗿𝗿𝗮𝗳𝗼𝗿𝗺, 𝗗𝗼 𝗞𝘄𝗼𝗻
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
💵 𝗦𝗘𝗖 𝗦𝗲𝗲𝗸𝘀 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗶𝗻 𝗙𝗶𝗻𝗲𝘀 𝗳𝗿𝗼𝗺 𝗧𝗲𝗿𝗿𝗮𝗳𝗼𝗿𝗺, 𝗗𝗼 𝗞𝘄𝗼𝗻
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
🤑𝙂𝙀𝙏 𝙁𝙍𝙀𝙀 𝙍𝙀𝙒𝘼𝙍𝘿 𝙐𝙋𝙏𝙊 8$ 𝙐𝙎𝘿𝙏 𝘼𝙉𝘿 𝙋𝙀𝙋𝙀 𝘾𝙊𝙄𝙉𝙎 𝙁𝙍𝙊𝙈 𝙈𝙔 𝙏𝙒𝙊 📌 𝙋𝙄𝙉𝙉𝙀𝘿 𝙋𝙊𝙎𝙏𝙎💰🤑💸
💵 𝗦𝗘𝗖 𝗦𝗲𝗲𝗸𝘀 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗶𝗻 𝗙𝗶𝗻𝗲𝘀 𝗳𝗿𝗼𝗺 𝗧𝗲𝗿𝗿𝗮𝗳𝗼𝗿𝗺, 𝗗𝗼 𝗞𝘄𝗼𝗻
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
💵 𝗦𝗘𝗖 𝗦𝗲𝗲𝗸𝘀 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗶𝗻 𝗙𝗶𝗻𝗲𝘀 𝗳𝗿𝗼𝗺 𝗧𝗲𝗿𝗿𝗮𝗳𝗼𝗿𝗺, 𝗗𝗼 𝗞𝘄𝗼𝗻
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
🤑𝙂𝙀𝙏 𝙁𝙍𝙀𝙀 𝙍𝙀𝙒𝘼𝙍𝘿 𝙐𝙋𝙏𝙊 8$ 𝙐𝙎𝘿𝙏 𝘼𝙉𝘿 𝙋𝙀𝙋𝙀 𝘾𝙊𝙄𝙉𝙎 𝙁𝙍𝙊𝙈 𝙈𝙔 𝙏𝙒𝙊 📌 𝙋𝙄𝙉𝙉𝙀𝘿 𝙋𝙊𝙎𝙏𝙎💰🤑💸
💵 𝗦𝗘𝗖 𝗦𝗲𝗲𝗸𝘀 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗶𝗻 𝗙𝗶𝗻𝗲𝘀 𝗳𝗿𝗼𝗺 𝗧𝗲𝗿𝗿𝗮𝗳𝗼𝗿𝗺, 𝗗𝗼 𝗞𝘄𝗼𝗻
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
💵 𝗦𝗘𝗖 𝗦𝗲𝗲𝗸𝘀 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗶𝗻 𝗙𝗶𝗻𝗲𝘀 𝗳𝗿𝗼𝗺 𝗧𝗲𝗿𝗿𝗮𝗳𝗼𝗿𝗺, 𝗗𝗼 𝗞𝘄𝗼𝗻
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
🤑𝙂𝙀𝙏 𝙁𝙍𝙀𝙀 𝙍𝙀𝙒𝘼𝙍𝘿 𝙐𝙋𝙏𝙊 8$ 𝙐𝙎𝘿𝙏 𝘼𝙉𝘿 𝙋𝙀𝙋𝙀 𝘾𝙊𝙄𝙉𝙎 𝙁𝙍𝙊𝙈 𝙈𝙔 𝙏𝙒𝙊 📌 𝙋𝙄𝙉𝙉𝙀𝘿 𝙋𝙊𝙎𝙏𝙎💰🤑💸
💵 𝗦𝗘𝗖 𝗦𝗲𝗲𝗸𝘀 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗶𝗻 𝗙𝗶𝗻𝗲𝘀 𝗳𝗿𝗼𝗺 𝗧𝗲𝗿𝗿𝗮𝗳𝗼𝗿𝗺, 𝗗𝗼 𝗞𝘄𝗼𝗻
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
💵 𝗦𝗘𝗖 𝗦𝗲𝗲𝗸𝘀 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗶𝗻 𝗙𝗶𝗻𝗲𝘀 𝗳𝗿𝗼𝗺 𝗧𝗲𝗿𝗿𝗮𝗳𝗼𝗿𝗺, 𝗗𝗼 𝗞𝘄𝗼𝗻
On May 22nd, a United States court will listen to arguments as to how much Terraform Labs and its co-founder Do Kwon must pay after the jury concluded that they defrauded investors.
The SEC is seeking $4.7 billion in penalties, plus $520 million in civil penalties. Terraform Labs, on the other hand, is arguing for a significantly smaller $1 million fine and avoiding any further penalties.
According to reports, SEC has available enough evidence to convince the court without a doubt that Terraform Labs had played games with investors on the stability of their crypto coin while also showing reluctance that others were working harder at ensuring the longevity of the crypto market.
The Court’s decision on the hearing on the 22nd of May will cause a multitude of consequences for the whole crypto market. Given that Do Kwon and Terraform Labs have to pay a huge fine, it is obvious that the authorities have a stricter regulation approach towards digital currencies.
$LUNC $LUNA #Terraform #DoKwon
The 🇺🇸US Government is one of the biggest #Bitcoin whales 🐋
Since 2020, they seized 215k+ $BTC - currently holds at least $5.65b worth 😲
That's 1%+ of the total circulating supply ‼️👀
#BTC #crypto #DoKwon #Matic #Shibarium #cryptonews
Since 2020, they seized 215k+ $BTC - currently holds at least $5.65b worth 😲
That's 1%+ of the total circulating supply ‼️👀
#BTC #crypto #DoKwon #Matic #Shibarium #cryptonews
Increased Efforts By South Korea To Have Terra-Founder Luna's Extradited Due Crypto Controversy
Prosecutors in #SouthKorea are working harder to extradite Kwon Do-hyung, better known as #DoKwon and five other Terraform Labs employees back to their home country so they may face fraud charges relating to the now-defunct Terra-Luna stablecoin.
Terraform Laboratories, a Singapore-based company, devised the initiative. An arrest order filed in September mentioned Kwon and his associates. In order to speed up their capture and extradition, South Korean prosecutors are now increasing their coordination with their international counterparts and legal organizations. Although the prosecutor's office declined to provide more information on the progress of legal assistance with overseas peers, this will aid efforts to return the accused to Korea.
The Federal Bureau of Investigation and the Southern District of New York prosecutors are also looking into former Terraform employees at the same time as the #SEC lawsuit against Terraform and Kwon, who are accused of hosting a "multi-billion dollar crypto asset securities fraud" and defrauding investors. Police in Singapore have started their own inquiry into Terraform Laboratories.
Asserting that the #Luna #cryptocurrency has never been a financial security, Terraform Labs has denied any wrongdoing. Kwon said he was to blame for the Terra project's failure during his podcast appearance last year but argued there was no fraud.
Daniel Shin, a co-founder of Terraform who is accused of misrepresenting the Luna cryptocurrency and making up to US$100 million by selling the token before it crashed, is under consideration for an arrest warrant, according to the Seoul prosecutor's office.
Shin refuted the allegations, claiming that he had sold the majority of his Luna holdings prior to the price increase and had kept a sizeable portion after the May cryptocurrency crash. However, he refuted claims that he pushed Terra stablecoin as a payment option despite receiving repeated warnings from law enforcement, asserting that he had never been served with such documents. A South Korean court denied the prosecution's plea to have a warrant for Shin's arrest issued in December.
Terraform Laboratories, a Singapore-based company, devised the initiative. An arrest order filed in September mentioned Kwon and his associates. In order to speed up their capture and extradition, South Korean prosecutors are now increasing their coordination with their international counterparts and legal organizations. Although the prosecutor's office declined to provide more information on the progress of legal assistance with overseas peers, this will aid efforts to return the accused to Korea.
The Federal Bureau of Investigation and the Southern District of New York prosecutors are also looking into former Terraform employees at the same time as the #SEC lawsuit against Terraform and Kwon, who are accused of hosting a "multi-billion dollar crypto asset securities fraud" and defrauding investors. Police in Singapore have started their own inquiry into Terraform Laboratories.
Asserting that the #Luna #cryptocurrency has never been a financial security, Terraform Labs has denied any wrongdoing. Kwon said he was to blame for the Terra project's failure during his podcast appearance last year but argued there was no fraud.
Daniel Shin, a co-founder of Terraform who is accused of misrepresenting the Luna cryptocurrency and making up to US$100 million by selling the token before it crashed, is under consideration for an arrest warrant, according to the Seoul prosecutor's office.
Shin refuted the allegations, claiming that he had sold the majority of his Luna holdings prior to the price increase and had kept a sizeable portion after the May cryptocurrency crash. However, he refuted claims that he pushed Terra stablecoin as a payment option despite receiving repeated warnings from law enforcement, asserting that he had never been served with such documents. A South Korean court denied the prosecution's plea to have a warrant for Shin's arrest issued in December.
Do Kwon’s arrest in Montenegro confirmed by Interpol. Interpol’s national central bureau in Seoul, South Korea, tells CNN that Terra Founder Do Kwon identity was confirmed through a fingerprint match.
#DoKwon #crypto2023
#DoKwon #crypto2023
Do Kwon Charged With Fraud by US Prosecutors in New York. US federal prosecutors said they would seek his extradition to New York. Kwon will be facing prosecution by the same office overseeing a criminal case against FTX co-founder Sam Bankman-Fried.
#DoKwon #crypto2023
#DoKwon #crypto2023
Montenegro's interior minister has announced that Do Kwon, the founder of Terraform Labs, was arrested in Montenegro.
#crypto2023 #dyor #DoKwon #Terra
#crypto2023 #dyor #DoKwon #Terra
South Korean prosecutors aim to arrest Daniel Shin, Terra Co-Founder after Do-Kwon’s arrest
#DoKwon #crypto #crypto2023
#DoKwon #crypto #crypto2023
Prosecutors in Montenegro on Friday charged fugitive Terra founder Do Kwon with forgery and South Korean officials vowed to press for his extradition.
#DoKwon #crypto #crypto2023
#DoKwon #crypto #crypto2023
Breaking News 📰: #DoKwon has been handed a 4-month prison sentence 😲 in Montenegro. He's been charged with using a counterfeit passport 🛂.
What are your thoughts on this development? 🤔💭
#terraluna $LUNC $LUNA
What are your thoughts on this development? 🤔💭
#terraluna $LUNC $LUNA
🗞️Terraform Labs and its co-founder, Do Kwon, are asking a federal judge to side with them in the U.S. Securities and Exchange Commission (SEC) fraud case, arguing that the regulator hasn't managed to prove the crypto company was offering securities.
Source: Coindesk
#bankruptcies #DoKwon #terraluna
Source: Coindesk
#bankruptcies #DoKwon #terraluna
