Terra co-founder Do Kwon faces $57-million lawsuit in Singapore
The lawsuit alleged Kwon and others made fraudulent claims on UST "either well knowing that they were false and untrue, or recklessly not caring whether they were true or false." Do Kwon, the co-founder of Terraform Labs who may be facing legal actions in South Korea and the United States, is also the target of a lawsuit in Singapore along with the Luna Foundation Guard, or LFG, and Terra founding member Nicholas Platias.In a lawsuit filed in Singapore’s high court on Sept. 23, 359 individuals alleged Kwon, Platias, LFG, and Terra made fraudulent claims including that Terra’s stablecoin....
Related News
Do Kwon, now a fugitive wanted by South Korean prosecutors and the Interpol, has a new fire to put out as more than 300 investors from Singapore decided to file a class action lawsuit against the Terra Labs co-founder. The 357 capitalists from the Asian nation had no choice but to bring the fight to […]
The multibillion-dollar collapse of Terra Labs’ stablecoin and the LUNA token is still ringing across the cryptocurrency industry, and numerous questions for Terra’s South Korean founder, Kwon Do-hyung, have emerged from the debris of wasted investments and shattered blockchain ideals. In the midst of the Terra disaster, Do Kwon, the company’s founder, is being investigated […]
Terra founder Do Kwon has been under fire from authorities since the network crashed earlier in 2022. Kwon who has now been asked to turn in his passport or have it rendered invalid has said he is not on the run. The founder has also denied all allegations that he has been trying to cash […]
Now it happens, unsurprisingly: the Interpol is involved and wants a piece of Do Kwon, the disgraced co-founder of the Terra ecosystem which disintegrated drastically in May, multiple news outlets reported Monday. Last week, the Singapore Police Force issued an arrest warrant for Kwon who, it said that time, was no longer in the country. […]
Singapore, where Terra co-founder Do Kwon is currently staying, does not have an extradition treaty with South Korea. According to local news outlet gynews.kr, the Seoul Southern District Prosecutors' Office's Joint Financial Securities Crime Investigation Team says it will be contacting the country's Ministry of Foreign Affairs to nullify the passports of Terra Luna co-founder Do Kwon and five other project developers. Prosecutors also plan to contact Interpol and escalate the South Korean arrest warrant issued the day prior into an international arrest warrant. All Terra Luna members....