Over 700 Million LUNC And 230000 USTC Burned By Terra Classic Community
1 month ago 1 min read

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

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 700 million LUNC and 230,000 USTC tokens in the last week, which is supported by LUNCMetrics data. The Terra ecosystem has been actively pursuing token burns, particularly after the Terra

Do Kwon Seeks Trial Delay Amid Montenegro Extradition Delays, SEC Allegations Loom
1 month ago 1 min read

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

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 expected. Kwon’s lawyers believe he will not be extradited until February or March, prompting a request to postpone the trial until mid-March to allow him to attend. If the court

Terra Luna Classic's L1 Task Force Proposes Community-Owned Wallet with L2 Team
8 months ago 1 min read

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

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, the L1TF intends to develop a web version of Station, as well as mobile apps for iOS and Android. Additionally, a Chrome browser extension will be created. These efforts aim

South Korea Announces May 26 Trial Date for Terraform Labs Co-Founder and Co-Defendants
10 months 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
10 months 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
11 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