SEC Revelations: Do Kwon Faked Terra Trading Volume and Used Chai to Create Fake Transactions

Do Kwon admitted to faking trading volume in leaked chats, according to SEC court documents. He told Chai founder he could "create fake transactions" to generate fees.
The SEC alleges the Chai-Terra partnership wasn't as advertised. Chai didn't use Terra blockchain to process payments despite claims.
New SEC filing reveals Kwon planned to use Chai to create fake Terra transactions to appear real and generate fees.
Terra was a major DeFi ecosystem focused on algorithmic stablecoins. Its LUNA token was a top 10 cryptocurrency before collapse.
Authorities have charged Do Kwon over Terra's collapse. He was arrested in Montenegro, found guilty of forgery, and fights extradition.

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8/21/2023

The Rot of the Crypto Economy Goes Deeper Than Sam Bankman-Fried

Sam Bankman-Fried, the crypto mogul who was once hailed as a philanthropic billionaire, is now facing fraud and money laundering charges and awaits trial while being held in a notorious federal facility; however, this does not indicate the end of the crypto scam economy as other high-profile figures are also facing similar legal troubles.

9/27/2023

Terraform Labs Founder Do Kwon Fights SEC Attempt to Question Him in U.S. About Terra/Luna Collapse

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Class-Action Lawsuit Against Terraform Labs and Do Kwon Dropped Following Collapse of Terra

A class-action lawsuit against Terraform Labs and its co-founder Do Kwon over fraud allegations has been dropped by the group of investors who filed the case.

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Posted 9/29/2023, 7:15:26 PM