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Terra And Do Kwon Lawsuit Voluntarily Dismissed, But Why?

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The plaintiffs in a class action lawsuit against TerraUSD and its affiliated companies voluntarily dismissed their case on Monday.

Matthew Albright filed the lawsuit on behalf of others against Terraform Labs (TFL), Pte Limited, and other affiliates in the Southern District of New York Court in August 2022.

The plaintiffs alleged that the defendants falsely promoted, manipulated, and offered UST stablecoin and LUNA. Zhu Su, a cofounder of failed crypto hedge fund Three Arrows Capital (3AC), announced the voluntary dismissal of the class action lawsuit via a tweet on January 10.  Read more...

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Do Kwon Ordered A Staff To ‘Doctor’ LUNA’s Price, South Korean Prosecutors Claim

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Do Kwon, the co-founder and Chief Executive Officer (CEO) of Terraform Labs, is now in hotter water following a crucial discovery made by South Korean prosecutors that could undermine his claims of innocence and non-involvement in the colossal implosion of the TerraUSD stablecoin.

According to some reports published on Korean news sites, Kwon allegedly gave specific instructions to one of his employees to manipulate the market price of the algorithmic stablecoin in a $ 40 billion wipeout in May.   Read more...

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Do Kwon Misery Worsens: Investors File $57 Million Lawsuit Vs. Terra Co-Founder

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Do Kwon, now a fugitive wanted by South Korean prosecutors and the Interpol, has a new fire to put out as more than 300 investors from Singapore decided to file a class action lawsuit against the Terra Labs co-founder.

The 357 capitalists from the Asian nation had no choice but to bring the fight to court as they lost $ 57 million. The plaintiffs claim that Do Kwon and his cohorts deceived them by making them believe that the value of the UST stablecoin is, as the word says, “stable” and will always be pegged to the U.S. dollar.  Read more...

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Terra Founder Do Kwon Is Still Cashing Out, But Not With Bitcoin

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Terra founder Do Kwon has been under fire from authorities since the network crashed earlier in 2022. Kwon who has now been asked to turn in his passport or have it rendered invalid has said he is not on the run. The founder has also denied all allegations that he has been trying to cash out bitcoin from the LUNA Foundation Guard treasury. While that might be true, more information has emerged that the Terra founder might be indeed cashing out funds, just not with bitcoin.

Not Cashing Out With Bitcoin  Read more...

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Do Kwon, Where Are You? Interpol Issues Arrest Warrant For Fugitive Terra Co-Founder

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Now it happens, unsurprisingly: the Interpol is involved and wants a piece of Do Kwon, the disgraced co-founder of the Terra ecosystem which disintegrated drastically in May, multiple news outlets reported Monday.

Last week, the Singapore Police Force issued an arrest warrant for Kwon who, it said that time, was no longer in the country. He is believed to own a house in Singapore.

It seems like the Interpol was just giving Kwon time to show himself up following the ruckus of his whereabouts. Kwon tweeted last week “I am ‘not on the run’ or anything similar.”  Read more...

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Do Kwon, Who’s Wanted By The Cops, Says He’s Not On The Run

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As of Sunday, Do Kwon, the disgraced co-founder of the Terra ecosystem which collapsed dramatically in May and for whom the Singapore Police Force had issued an arrest warrant, is no longer in the country.

Last Monday, Kwon and five others were named in an arrest order issued by South Korean prosecutors. He is largely responsible for creating two cryptocurrencies whose stunning demise in May shook the global crypto markets.

According to the Singapore Police Force:

“The SPF will assist the Korean National Police Agency (KNPA) within the ambit of our domestic legislation and international obligations. Do Kwon is currently not in Singapore.”  Read more...

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LUNA Founder Do Kwon Wanted By Korea, Soon Interpol

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According to a report from a local news media, law enforcement agencies in South Korea issued an arrest warrant against LUNA Founder and Terraform Labs CEO Kwon Do-Hyeong also known as Do Kwon. The founder has been under authorities’ radar since the collapse of the Terra ecosystem in May 2022.

The arrest warrant was issued by the Seoul Southern District Prosecutor’s Office’s Financial and Securities Crime Unit, which is under the direction of Dan Seong-Han, the report claims. This institution has been investigating the LUNA Founder with its Financial Investigation Division and five prosecutors.  Read more...

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