The disgraced co-founder of the Terra (LUNA) ecosystem is set to appear in a US court today after recently being extradited from Montenegro. According to a new report by Reuters, Do Kwon is facing fraud charges in the US related to the multibillion-dollar downfall of Terra in 2022 and will make his first court appearance […]
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Montenegrin authorities extradited crypto entrepreneur Do Kwon to the United States on Sunday to face fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022. According to a Reuters report, Kwon, who co-founded Terraform Labs, was arrested in Montenegro last March while attempting to board a flight using a fake Costa […]
The post Terraform Labs Founder Do Kwon Handed Over to US Authorities Days After Montenegro Approved Extradition: Report appeared first on The Daily Hodl.
Terraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors facing significant losses after the Terra ecosystem collapsed. Court Approves Terraform Labs Wind-Down Terraform Labs has been granted […]
An appellate court in Montenegro has upheld the decision of a lower court on the extradition case of Terraform Labs co-founder Do Kwon. Kwon is facing criminal charges in his native South Korea and the US for the $40 billion crash of the TerraUSD stablecoin and its companion token, Luna. Both countries sought Kwon’s extradition […]
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Singapore-based Terraform Labs and its founder Do Kwon have reportedly reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC) after being accused of misleading cryptocurrency investors before the 2022 collapse of terrausd (UST), the project’s now-defunct algorithmic stablecoin. According to a court filing, the settlement terms are currently undisclosed and the alleged […]
Terraform founder Do Kwon will be released from jail but placed under police surveillance at a local residence, a Montenegrin court has decided. The trial against him and another Korean, on charges of travelling on false documents, opened on Thursday with both pleading not guilty. Court Grants Bail Request for Do Kwon, Puts Him Under […]
Troubled Terra (LUNA) founder Do Kwon is being placed under house arrest in Montenegro after posting bail. According to a new document released by Montenegrin authorities, Do Kwon and Han Chang-Joon, Terra’s former chief financial officer, have paid $435,000 each to post bail but will be forced to stay under house arrest until the end […]
The post Embattled Terra (LUNA) Founder Do Kwon Placed Under House Arrest in Montenegro After Posting $435,000 Bail appeared first on The Daily Hodl.
South Korean authorities are looking to extradite embattled Terra (LUNA) founder Do Kwon months after he was found in the Eastern European nation of Montenegro. According to a new report from The Wall Street Journal, the leading prosecutor in the case says that bringing Kwon back to South Korea would be the best way to […]
The post Prosecutors Seek To Extradite Embattled Terra Founder Do Kwon to South Korea: Report appeared first on The Daily Hodl.
According to the recent complaint by the U.S. Securities and Exchange Commission (SEC) against Bittrex, the securities regulator insists that a few crypto asset tokens were offered and sold as investment contracts and are securities. The news follows the SEC’s designation of several crypto assets as securities, including the case against Terraform Labs, which insists […]
Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore office sent millions of U.S. dollars to lawyers just before the crash of its cryptocurrencies. According to Korean media, the transfers suggest that co-founder Do Kwon was aware of the imminent collapse. Terraform Labs Transferred Large Amounts of Money to South Korean […]