Do Kwon Misery Worsens: Investors File $57 Million Lawsuit Vs. Terra Co-Founder
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 […]
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The Blockchain Association filed an amicus brief in the case between the U.S. Securities and Exchange Commission (SEC) versus payment company Ripple. The motion is a tool a party uses to provide the court with additional information in support of the defendant, in this case, the payment company. Related Reading: Do Kwon Misery Worsens: Investors File $57 […]
LUNC (Terra Luna Classic) continues to experience severe losses as its market capitalization took a heavy hit earlier today. On November 1, the asset’s overall valuation stood at $1.60 billion but in just a span of 24 hours, the value declined by almost 10% as it settled at $1.47 billion, losing $130 million in such […]
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 […]
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....
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 […]