Terra

Terraform Labs co-founder pleads not guilty to charges linked to the $40 billion implosion

January 3, 2025 1 min read

Do Kwon, co-founder of Terraform Labs, appeared in a Manhattan court on January 2, 2024, pleading not guilty to multiple fraud charges linked to the collapse of the TerraUSD (UST) stablecoin, which resulted in a staggering $40 billion loss. Kwon faces nine charges, including wire, securities, and commodities fraud, related to the dramatic decline of the LUNA and UST tokens. He was arrested in Montenegro in March 2023 while attempting

Montenegro to extradite Terraform Labs founder Do Kwon to the United States

December 29, 2024 1 min read

Montenegro has agreed to send Do Kwon, the founder of Terraform Labs, to the United States, as decided by the Montenegrin Justice Minister Bojan Božović. The Constitutional Court of Montenegro has turned down Kwon’s appeal against his extradition, which he claimed was based on unfair legal views. The court’s decision ended the legal process of his extradition, putting the final choice in the hands of the Minister of Justice. Do

Over 700 Million LUNC And 230,000 USTC Burned By Terra Classic Community

January 22, 2024 1 min read

The Terra Classic Community found a reason to celebrate recent revelations about significant token burns, providing a ray of hope amidst adversity. According to reports, significant burns of LUNC and USTC tokens have occurred in the last week, which could have a positive impact on the prices of these cryptocurrency tokens. In a recent X (formerly Twitter) post, AlexCryptoBull, an active member of the Terra community, highlighted the burning of

Do Kwon seeks to delay his US trial as extradition from Montenegro faces delays

January 15, 2024 1 min read

In a recent legal development, Do Kwon, the former CEO of Terra, has requested that his trial in the United States be postponed. The trial, which is centered on charges brought by the US Securities and Exchange Commission (SEC), could be delayed due to Kwon’s extradition from Montenegro. Kwon’s legal team informed Judge Jed S. Rakoff in a letter that the extradition process from Montenegro is moving more slowly than

Terra Luna Classic’s Joint L1 Task Force Proposes Community-Owned Wallet with L2 Team Integration

June 22, 2023 1 min read

The Terra Luna Classic core developer group, Joint L1 Task Force (L1TF), has recently submitted a proposal on Commonwealth, outlining their plan to build a community-owned wallet. Currently, Terra Classic utilizes L2 wallet dApp providers like TFL (Station), Keplr, and Trust Wallet, among others. However, none of these providers are owned by the community, as they are forked versions of Station Wallet owned by individual groups. According to the proposal,

South Korea Schedules Trial for Terraform Labs Co-Founder and Associates on May 26

May 11, 2023 1 min read

The trial for Terraform Labs co-founder Shin Hyun-Seung and seven other associates who are charged with fraud in relation to the US$40 billion collapse of the Terra-Luna stablecoin and crypto project in May 2022 has been scheduled for May 26 in the Seoul Southern District Court. The co-founder has assembled a team of 30 lawyers for his defense, which includes 11 lawyers from a law firm that recently hired a

Terra Co-Founder Do Kwon Reportedly Sent Millions to Law Firm Before Crash

April 15, 2023 2 mins read

South Korean prosecutors have revealed that Do Kwon, the CEO of Terraform Labs, sent a significant sum of money to a prominent law firm in the country just before the Terra stablecoin and Luna cryptocurrency collapsed a year ago. The move sent shockwaves throughout the industry and created a domino effect. Over the following months, Kwon sent a total of $3 million to Kim & Chang, which is now being

Do Kwon Arrested While Traveling in Montenegro

March 23, 2023 1 min read

Do Kwon, the co-founder and former CEO of Terraform Labs, has been arrested by the Montenegrin police after a prolonged manhunt. According to the Montenegrin Minister of Interior, Filip Adzic, Kwon was apprehended at the Podgorica airport with falsified documents. He is sought after by South Korea, the US, and Singapore for his alleged role in a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto