SEC sues former Terra founder Do Kwon for securities fraud


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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