The Current Investigations on Terraform Labs and founder Do Kwon Following LUNA/UST Crash

 


South Korean Police investigates Terraform Labs in fraud and laundering: The Seoul Metropolitan Police announced on June 8th that they had opened an investigation into Terraform Labs. An employee of the company's treasury had allegedly feigned Bitcoin holdings. After more than 100 investors filed complaints against Terra regarding the algorithmic balancing of LUNA and UST, they began an investigation.
US SEC opens investigation into Do Kwon & Terraform Labs following founder's cash out of $80 million one month prior to scandal: On June 10, 2022, the SEC announced that they are looking into Terraform Labs and its founding member for fraud before and after the scandal. They also want to know when and how it would occur. Interrogatories were conducted on employees at Terraform Labs (the company Do Kwon founded). These employees claim that Do Kwon began withdrawing $80 million per month from the protocol's Treasury and his own funds. The funds then went to several crypto wallets.Gate.io Customer Support helpline number.

South Korean authorities are specifically looking into Do Kwan's Ponzi scheme. Lawyers involved with the case indicate that Do Kwon, his partner Daniel Shin and the entire Ponzi system were unsustainable at the outset and that they used it to pool money from unsuspecting retail investors.Gate.io login

Terraform Labs loses appeal to SEC and must give information on Mirror Protocol. The investigation alleges that Terraform Labs formed legal partnerships on US soil in order to advertise Mirror Protocol. This would be illegal since the foundation isn't registered in the United States. Do Kwon, Terraform Labs and the other investigators must give evidence of their supposed involvement in American companies.

Keywords : investigations into terraform laboratories, terraform laboratory founders, Luna/ust crashes, Luna crashed anchor protocol, mirror protocol. South Korean prosecutor, US SEC. Do Kwon loses appeal. Founder Daniel Shin, Ponzi scheme.

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