Browsing:Terra

South Korea Announces May 26 Trial Date for Terraform Labs Co-Founder and Co-Defendants
2 weeks ago 1 min read

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

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 former Seoul prosecutor that investigated the Terra-Luna collapse. Shin and seven Terraform employees were indicted for fraud on April 25, while two others face bribery charges related to the case.

Do Kwon, sent a lot of money to a law firm in the country just before the Terra Luna collapse
1 month ago 2 mins read

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

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 investigated by Singaporean law enforcement. If Kwon is found to have liquidated illicit cryptocurrency assets to pay for legal representation, embezzlement charges may be brought against him. Both countries hope

Founder of Terraform Labs Arrested in Montenegro
2 months ago 1 min read

Do Kwon Arrested While Traveling in Montenegro

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 asset securities. The collapse of the Terra (LUNA) ecosystem has been linked to Do Kwon and Terraform Labs, which have been accused by the United States Securities and Exchange Commission

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