Terraform Labs appointed a new chief executive officer following Do Kwon’s resignation on March 31, 2023. In a Wall Street Journal interview, the interim CEO, Chris Amani, discussed his team’s “vision” for rescuing the beleaguered blockchain project. Terraform Labs Finds New Leadership, Attorneys Seek to Dismiss SEC Case Following Ripple Decision Chris Amani, Terraform Labs’…
Read more
Blockchain data showed the wallet reportedly associated with LFG had a balance of roughly 6,983 BTC in October 2022, with transactions later moving funds to different addresses. An unknown party has moved more than $160 million worth of Bitcoin from a wallet reportedly tied to the Luna Foundation Guard (LFG), the organization connected to Terraform…
Read more
Law enforcement officials in Switzerland reportedly seized approximately $26 million in bitcoin and other cryptocurrencies, believed to be linked to Terraform Labs and its co-founder, Do Kwon. Local media in South Korea revealed that the funds were confiscated from Sygnum, a crypto bank based in Zurich. The U.S. Securities and Exchange Commission is said to…
Read more
Montenegro’s court has determined that Do Kwon, the co-founder of Terraform Labs, is guilty of using a counterfeit Costa Rican passport. As a result, he has been sentenced to four months in jail for the offense. Do Kwon Sentenced to 122 Days in Prison, Defendant Has 8 Days to Appeal According to the Montenegrin court,…
Read more
Terraform Labs co-founder Do Kwon was found guilty of using fake passports in a court in Montenegro on Monday. Kwon along with Terraform Labs’ former Chief Financial Officer Han Chong-joon will serve four months in prison each, according to a statement released by the Podgorica Basic Court. … Read More: Terraform Labs Co-Founder Do Kwon Found…
Read more
Do Kwon has denied forging travel documentation and refuted having any financial ties to Europe Now party leader Milojko Spajić. Terraform Labs founder Do Kwon reportedly told a Montenegro court that he wasn’t aware the passport he was traveling with was allegedly forged and instead pinned the blame on a Chinese-named agency. According to a…
Read more
Do Kwon, the Terraform Labs founder and CEO, has told a Montenegro court that he did not know the “fake” travel documents he was allegedly trying to leave the country with were forged – and blamed a “Chinese-named agency.” Per the South Korean media outlets Segye Ilbo and MBN, Kwon told a District Court in…
Read more
A judge in the United States considered on Thursday whether the cryptocurrencies created by Terraform Labs were securities. The failed blockchain firm and its founder, Do Kwon, have asked the court to dismiss a case filed by the U.S. Securities and Exchange Commission (SEC) alleging that they defrauded investors whom they sold unregistered securities. Judge…
Read more
Do Kwon, the founder of failed blockchain project Terra, could stay in custody for up to six months while Montenegro’s courts consider an extradition request from South Korea. On Thursday, a Montenegro court extended Kwon’s stay in custody for an additional six months as he awaits trial for possible extradition, according to a report by Radio…
Read more
The lawsuit, initially filed on May 9, alleges the firm and its CEO was involved in a price manipulation scheme tied to the TerraUSD stablecoin. Algorithmic and high-frequency trading firm Jump Trading is seeking to have the class action lawsuit against the firm moved from Illinois to a Northern district court in California, arguing that…
Read more
