SEC heeft Do Kwon en Terraform Labs aangeklaagd wegens fraude

• De Amerikaanse Securities and Exchange Commission (SEC) heeft officieel een rechtszaak aangespannen tegen Do Kwon en 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.”
• Het bureau voegde eraan toe dat de twee ook Anchor Protocol op de markt brengen en investeerders misleiden met beloften van hoge rendementen.

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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. 

Volgens een 16 februari uitspraak 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).

Vandaag hebben we het in Singapore gevestigde Terraform Labs PTE Ltd en Do Hyeong Kwon aangeklaagd voor het orkestreren van een crypto-activa-fraude van meerdere miljarden dollars waarbij een algoritmische stablecoin en andere crypto-activa-effecten betrokken waren.

— Amerikaanse Securities and Exchange Commission (@SECGov) 16 februari 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.”

Zoals onlangs gemeld door Bitnation, werd de locatie van Do Kwon eindelijk onthuld nadat de autoriteiten in Zuid-Korea een tip hadden ontvangen over de verblijfplaats van de crypto-ondernemer. Dat heeft een ambtenaar bevestigd 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.”

De 55 pagina's klacht 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. 

Aan de andere kant worden Do Kwon en Terraform Labs ook geconfronteerd met een andere juridische bedreiging van een groep van ongeveer 350 investeerders in Singapore die bijna $57 miljoen verloor in de ineenstorting van de TerraUSD-cryptocurrency. 

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