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SEC sues former Terra founder Do Kwon for securities fraud

Posted on February 18, 2023 by Jessica Tan

Lawsuit Against TerraformLabs and Kwon Founders The U.S. Securities and Exchange Commission (SEC) today accused TerraformLabs, which operated the Terra ecosystem that collapsed in 2022, and its founder, DoKwon, for orchestrating securities fraud. Appealed. In a complaint filed in the Southern District of New York, the SEC said that after the collapse of the former Terra (LUNA) ecosystem in May 2022, TerraformLabs and Kwon transferred funds equivalent to 10,000 bitcoins (BTC) to a Swiss bank. They also claim that it was sent to their account. The SEC first decided that the defendant had since April 2018…

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Jessica Tan

Jess Tan is an experienced journalist and writer who specializes in covering the rapidly-evolving world of cryptocurrency and blockchain technology. With a background in financial journalism, Jess brings a unique perspective to their reporting, providing readers with in-depth analysis and insights into the latest developments in the crypto industry. As a crypto news writer, Jess is committed to staying up-to-date on the latest trends and advancements in blockchain technology and cryptocurrency. They have a keen eye for spotting emerging trends and opportunities in the crypto market, and are skilled at distilling complex technical concepts into easy-to-understand language for a general audience. With years of experience covering the crypto beat, Jess has built a strong network of contacts and sources within the industry. They are a regular contributor to leading crypto publications, including CoinDesk, Cointelegraph, and CryptoSlate, and have been recognized for their outstanding reporting on blockchain technology and its impact on the wider world. Whether covering breaking news, in-depth analysis, or human-interest stories within the crypto community, Jess is dedicated to delivering accurate, informative, and engaging content that helps readers stay informed about this rapidly-evolving industry.