Terraform Labs Employee In Hot Water For Stealing Company’s Bitcoin
Seoul Metropolitan Police Agency launched an investigation against an employee from Terraform Labs, who is allegedly involved in the embezzlement of corporate funds in Bitcoin from the company in May. South Korean police stood by its findings that the employee’s unlawful act was purely personal and did not involve Terraform Labs Founder Do Kwon. Following […]
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An ex-employee of the now-defunct crypto exchange Cryptopia has admitted in court to stealing crypto worth about $170,000. The employee pled guilty to stealing coins and customer data while he worked at Cryptopia when the company was still up and running. A name suppression by the Christchurch district court of New Zealand keeps the employee […]
The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Terraform Labs and the collapse of algorithmic stablecoin terrausd (UST). “SEC enforcement attorneys are investigating whether Terraform Labs broke securities and investment product rules.”
SEC Launches Investigation of Terraform Labs and UST
The U.S. SEC is investigating Terraform Labs and its algorithmic stablecoin terrausd (UST), Bloomberg reported Thursday, citing people familiar with the matter.
UST lost its peg to the U.S. dollar in early May. The stablecoin quickly lost....
The South Korean cryptocurrency ecosystem is still experiencing issues because of the Terraform Labs probe. According to reports, the nation’s authorities advanced the probe on Wednesday with their most recent actions. The investigation into the fraud claims against the Terraform Labs management is still ongoing. Terraform Probe Heats Up As part of their ongoing inquiries […]
Official records show Do Kwon dissolved Terraform Labs Korea, closing down its headquarters and sole branch just days before the collapse of terra crypto (LUNA) and stablecoin terrausd (UST). Do Kwon Shut Down Terraform Labs Korea Before UST and LUNA Fallout Terraform Labs founder Do Kwon reportedly closed down his company in Korea days before the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). According to South Korea’s supreme court registry office, Terraform Labs Korea decided to dissolve its Busan headquarters and Seoul branch at the general shareholders....
A recent court filing stemming from the Southern District of New York shows that a U.S. district judge has ordered the crypto startup Terraform Labs to comply with the Securities and Exchange Commission’s (SEC) subpoenas. During the second week of November 2021, the U.S. regulator filed a subpoena enforcement action against Terraform Labs and the startup’s CEO, Do Kwon. U.S. Regulator Gets New York Judge to Side With Investigative Subpoenas Plea On February 17, 2022, a court order signed by the United States district judge J. Paul Oetken details that the startup Terraform....