SEC ha citato in giudizio Do Kwon e Terraform Labs per frode

• La Securities and Exchange Commission (SEC) degli Stati Uniti ha ufficialmente intentato una causa contro Do Kwon e Terraform Labs.
• The regulator said that Do Kwon and Terraform Labs offered and sold an “inter-connected suite of crypto asset securities, many in unregistered transactions.”
• The SEC stated that the two allegedly orchestrated “a multi-billion dollar crypto asset securities fraud.”
• L'agenzia ha aggiunto che i due commercializzano anche il protocollo di ancoraggio e fuorviano gli investitori con promesse di rendimenti elevati.

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The United States Securities and Exchange Commission (SEC) has officially filed a lawsuit against the well-known creator of the Terra ecosystem, which included the LUNA token and the UST stablecoin, which lost its peg to the US dollar in 2022. The collapse of the Terra ecosystem witnessed around $40 billion getting wiped off the industry’s books. 

Secondo un 16 febbraio dichiarazione from the SEC, Do Kwon and Terraform Labs offered and sold an “inter-connected suite of crypto asset securities, many in unregistered transactions.” The securities regulator of the US also believes that the two allegedly orchestrated “a multi-billion dollar crypto asset securities fraud.” 

The agency also mentioned in its statement the collapse of Terraform Labs’ now-collapsed algorithmic stablecoin, TerraUSD, now known as TerraClassicUSD (USTC), and its connected cryptocurrency, Terra Luna, now known as Terra Luna Classic (LUNC).

Oggi abbiamo accusato Terraform Labs PTE Ltd e Do Hyeong Kwon, con sede a Singapore, di aver orchestrato una frode multimiliardaria in titoli di criptovalute che coinvolgeva una stablecoin algoritmica e altri titoli di criptovalute.

— Commissione per i titoli e gli scambi degli Stati Uniti (@SECGov) 16 febbraio 2023

The SEC added that Kwon and his company “raised billions of dollars from investors by offering and selling an interconnected suite of crypto asset securities, many in unregistered transactions.” 

“While marketing the LUNA token, Terraform and Kwon repeatedly misled and deceived investors that a popular Korean mobile payment application used the Terra blockchain to settle transactions that would accrue value to LUNA. Meanwhile, Terraform and Kwon also allegedly misled investors about the stability of UST,” stated the SEC.

The regulator’s complaint also states that Terraform and Kwon marketed crypto asset securities to investors “seeking to earn a profit, repeatedly claiming that the tokens would increase in value.”

Come recentemente riportato da Bitnation, la posizione di Do Kwon è stata finalmente rivelata dopo che le autorità della Corea del Sud hanno ricevuto una soffiata sul luogo in cui si trovava l'imprenditore di criptovalute. Lo ha confermato un funzionario Kwon’s location is in Serbia. 

“We allege that Terraform and Do Kwon failed to provide the public with full, fair, and truthful disclosure as required for a host of crypto asset securities, most notably for LUNA and Terra USD,” said SEC Chair Gary Gensler. “We also allege that they committed fraud by repeating false and misleading statements to build trust before causing devastating losses for investors.”

Le 55 pagine rimostranza added that Do Kwon and Terraform Labs “touted and marketed” Anchor Protocol, a blockchain platform that offered a 20% return on the deposits of the stablecoin. The popularity of the Protocol knew no bounds in 2021 but started to decline once the 2022 bear market strengthened. 

D'altra parte, anche Do Kwon e Terraform Labs stanno affrontando un'altra minaccia legale da parte di un gruppo di circa 350 investitori a Singapore che ha perso quasi $57 milioni nel crollo della criptovaluta TerraUSD. 

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