SEC Gains Court Victory Against Terraform Labs and Do Kwon: Re | Crypto News Source
SEC Gains Court Victory Against Terraform Labs and Do Kwon: Report
Although the US has yet to win the extradition victory against South Korea for Do Kwon, a New York court has already ruled against the fallen former crypto mogul in a legal case launched by the Securities and Exchange Commission. Do Kwon and his crypto brainchild – Terraform Labs – were found guilty of misleading investors in the 2022 crash. The Terra collapse from two years ago was among the loudest in the cryptocurrency industry, which resulted in an investor loss of around $40 billion. This unfolded when unknown actors found a way to explore the project’s algorithmic stablecoin UST, and the other native token – LUNA.
