Terra grundare betalade ut 10K BTC via schweizisk bank: SEC

• Do Kwon betalade ut 10 000 Bitcoin (BTC), hävdar United States Securities and Exchange Commission (SEC) i sitt klagomål. 
• De 10 000 BTC såldes för kontanter av grundaren av Terra-ekosystemet med hjälp av en schweizisk bank. 
• The crypto entrepreneur cashed out more than $100 million worth of BTC between “June 2022 and the date of this complaint.”
• De 10 000 BTC:erna överfördes från en centraliserad börs till ett kyllager där dessa tokens låg vilande under en kort tidsperiod.

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Do Kwon, the founder of Terraform Labs, the organization responsible for the maintenance and development of the TerraUSD stablecoin (now USTC) and the Terra (now Terra Classic) token, or LUNC, had cashed out almost 10,000 Bitcoin (BTC), the world’s biggest crypto coin, according to a complaint filed by the United States Securities and Exchange Commission (SEC). The regulator has recently started cracking down on crypto firms.

Enligt en rapport från Bloomberg, Kwon made use of an unnamed Swiss bank to cash out over 10,000 BTC. The SEC states in its complaint on Feb. 16 that after the collapse of the Terra ecosystem, which was Kwon’s brainchild, the crypto entrepreneur cashed out more than $100 million worth of BTC between “June 2022 and the date of this complaint.”

Det är viktigt att notera att regulatorn hävdar att de 10 000 Bitcoin överfördes från en centraliserad börs till kylförvaring, där dessa tokens låg vilande under en kort period efter kollapsen av TerraUSD stablecoin. Intressant nog började Bitcoin-innehavet flytta från kylförvaringen förra året, hävdar SEC samtidigt som de tillägger att en bank i Schweiz användes för att byta BTC mot kontanter. 

Som tidigare rapporterats av Bitnation, SEC stämde Do Kwon och Terraform Labs claiming that the two together operated a fraudulent scheme and offered and sold an “inter-connected suite of crypto asset securities, many in unregistered transactions.” The regulator noted in the complaint that Kwon orchestrated “a multi-billion dollar crypto asset securities fraud” via the Terra stablecoin ecosystem. 

 “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.”

Idag åtalade vi Singapore-baserade Terraform Labs PTE Ltd och Do Hyeong Kwon för att ha orkestrerat ett bedrägeri med kryptotillgångar på flera miljarder dollar som involverade ett algoritmiskt stablecoin och andra kryptotillgångsvärdepapper.

— US Securities and Exchange Commission (@SECGov) 16 februari 2023

The Terra ecosystem collapsed in the month of May last year when the popularity of the LUNA (now LUNC) token peaked along with its TVL. Moreover, many institutions also had exposure to Do Kwon’s crypto coin and ecosystem. Interestingly, the collapse of the ecosystem led to many crypto firms losing a significant portion of their wealth, and some even filed for bankruptcy. 

Dessutom har platsen för Kwon varit okänd sedan förra året och enligt rapporter var kryptoentreprenören det någonstans i Serbien and South Korean prosecutors said that, “We are continuing efforts to locate Kwon, and it’s difficult to confirm anything related to the investigation at this stage.”

“As alleged in our complaint, the Terraform ecosystem was neither decentralized, nor finance. It was simply a fraud propped up by a so-called algorithmic “stablecoin” – the price of which was controlled by the defendants, not any code,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement.

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