A South Korean District Court has declared that LUNA, the native token of the Terra ecosystem, is not a security. The court also dismissed prosecutors’ requests to confiscate properties belonging to Singapore-based Terraform Labs co-founder Shin Hyun-Seong, and also arrest him along with other executives of the Singapore-based project. LUNA Is Not a Security Token...Read More
The infamous co-founder of Terraform Labs has reportedly lost his bid against the US Securities and Exchange Commission (SEC). The latter is now allowed to seek records from the Monetary Authority of Singapore (MAS) that could shed more details on how the 31-year-old developer managed Luna Foundation Guard and whether he had a hand in...Read More
The former crypto mogul – Do Kwon – reportedly sent 9 billion won (approximately $6.9 million) to law firm Kim & Chang before the Terra collapse last spring. The 31-year-old South Korean was detained last month in Montenegro after allegedly changing locations in the past several months. A trial against him will determine whether he...Read More
Do Kwon – the co-founder of Terraform Labs – will reportedly appeal against the Montenegrin court’s decision to extend his detention for up to one month. The 31-year-old developer has supposedly been on the run for several months after the native token of the project – LUNA – and its algorithmic stablecoin – UST –...Read More
US prosecutors have reportedly accused the notorious Co-Founder of Terraform Labs – Do Kwon – of orchestrating a cryptocurrency scam that drained at least $40 billion from investors. The authorities of Montenegro arrested the 31-year-old developer earlier this week after he was on the run for several months, hiding in numerous countries and falsifying his...Read More
Do Kwon, the co-founder of Terraform Labs, who has been on the run since the $40 billion collapse of the Terra-Luna ecosystem in May, has been reportedly arrested by the local police in Montenegro. According to a tweet by Montenegro’s minister of interior, Filip Adzic, the police apprehended someone suspected of being Kwon at the...Read More
The United States Department of Justice (DOJ) reportedly launched an investigation against Terraform Labs and its former employees to explore what led to the collapse of the project’s native token – LUNA – and its algorithmic stablecoin – UST. The US SEC recently accused the entity and its co-founder – Do Kwon – of orchestrating...Read More
Singapore’s law enforcement agencies have reportedly begun a probe against Terraform Labs – the infamous blockchain project co-founded by crypto fugitive Do Kwon. The authorities also estimated that the 31-year-old developer is not hiding in the city-state. The Latest to Point the Finger at Terraform Labs In an emailed announcement seen by Bloomberg, Singapore’s police stated,...Read More
The implosion of Terra last summer still haunts the crypto industry. Numerous post-mortem reports have gone into detail about the wallets that contributed to the collapse while simultaneously adding curiosity to a certain “Wallet A.” Wintermute’s researcher, Igor Igamberdiev, believes that “there is a good chance” one of the wallets linked to the UST depeg...Read More
Shortly after legally going after Do Kwon and Terraform Labs, the US Securities and Exchange Commission asserted that the former cashed out 10,000 bitcoin after his brainchild collapsed. Kwon has been on the run ever since the crash last year, reportedly currently hiding in Serbia. As reported by Bloomberg, the latest allegations from the US...Read More
On February 16th, the US Securities and Exchange Commission (SEC) accused Terraform Labs, the Singapore-based company behind the creation of LUNA and UST – native tokens of the Terra ecosystem – and its co-founder Do Kwon of promoting a multi-billion dollar fraud by offering and selling unregistered securities through the use of crypto assets. The...Read More
The South Korean authorities reportedly issued an arrest warrant to a former Chief Executive Officer of the e-commerce giant TMON. He supposedly accepted bribes in Terra (LUNA) worth billions of won to promote the infamous blockchain project. Terra Keeps Splashing the Water As reported by a local media outlet, an ex-boss of the Korean e-commerce company...Read More
A group of South Korean officials reportedly arrived in Serbia last week to look for the infamous Do Kwon. The 31-year-old has been on the run since the collapse of his blockchain protocol Terra. The latter’s native token – LUNA – and algorithmic stablecoin – UST – plunged to essentially zero last year, affecting numerous...Read More
It’s been more than half a year since the first major player in the crypto space went under, with the decidedly unstable “stablecoin” UST losing its peg and taking its creator, Terraform Labs, down with it. The founder of TFL, Do Kwon, has been on the run ever since and is reportedly in hiding in...Read More
Summary: The Luna Foundation Guard has bought an additional 37,863 Bitcoin worth $1.5 billion The purchase is in line with Do Kwon’s goal of backing UST with digital asset reserves worth $10 billion The Luna Foundation Guard now holds 80,394 BTC The Luna Foundation Guard has acquired an additional 37,863 Bitcoin worth $1.5 billion to...Read More
Terra (LUNA) has hit a new all-time high of $115.23 The LUNA Foundation is determined to keep buying Bitcoin Terra’s founder wants to increase LUNA’s Bitcoin reserves to $10 Billion and to be the single largest holder of Bitcoin after Satoshi LUNA and the purchases of the Foundation could ignite a Bitcoin and crypto-wide bull...Read More
