More than 19k BTC was traded by public miners following market deterioration. This week, the cryptocurrency industry surged past $1 trillion in market capitalization. Since May, major institutions have sold at least 236,237 BTC, according to Arcane Research analyst Vetle Lunde in a tweet on Thursday. For the first step,
Exchanges, including Upbit, Bithumb, and Coinone, were the targets of raids. Around 200,000 South Korean investors are thought to have invested in TerraUSD and Luna. Shocking revelations from South Korea have been pouring in after the fall of Terra-Luna. On Wednesday, Korean prosecutors raided seven cryptocurrency exchanges to see whether
Terraform Labs gained $94 M in the year 2019. Investigation happening over DoKwon regarding the TerraUSD collapse. A raid on the Seoul residence of TerraUSD co-founder Daniel Shin, according to a Bloomberg story quoting local media, has extended an investigation into alleged unlawful conduct around the algorithmic stablecoin TerraUSD (UST)
Several regulatory authorities from across the globe launched official investigations. Know Your Customer and Anti-Money Laundering rules are demanded. Several charges were brought against Terraform Labs and its co-founder, Do Kwon, after the collapse of the Terra ecosystem in May. As a result of the scandal, several regulatory authorities from
Anonymous is digging deep into his past, including his time before joining the industry. Anonymous is a decentralized multinational renowned activist group. Anonymous has vowed to bring Do Kwon to justice as soon as feasible in the wake of the May collapse of the Terra (LUNA) and TerraUSD (UST) ecosystems,
According to reports, the 3AC “liquidation” reached at least $400 million. According to Dune Analytics, 3AC’s portfolio allocation is $372.47 million. Digital currency hedge firm Three Arrows Capital (3AC) may face insolvency, according to sources who spoke to The Block writer Frank Chaparro. According to reports, the 3AC “liquidation” reached
The Do Kwon fraudulent investigation began. Kwon was discovered to have stolen revenue by avoiding 50 billion won ($39 million) in taxes. Do Kwon is being investigated for tax fraud by the Seoul Southern District Prosecutor’s Office’s Joint Financial and Securities Crime Investigation Team. The National Tax Service discovered that
Kwon could repurchase stablecoins by lending them back to himself. Do Kwon didn’t care that Anchor’s long-term survival was in jeopardy. According to the definition of Terra’s UST, it should have always been redeemable for one dollar. UST used an algorithm to maintain its peg instead of using a central
South Korea’s National Tax Service ordered Kwon to pay 100 billion won. Terra employees confirmed that $80 million was transferred. Terra LUNA’s dramatic crash grabbed US Security Exchange Commission’s (SEC) attention and SEC reported that Terra LUNA founder Do Kwon was involved in money laundering activities. Terra employees reportedly confirmed
According to reports, this theft happened in May 2021. The South Korean authorities are looking into Do Kwon’s tax evasion. Reports from South Korea claim that a Terra employee is under investigation for allegedly embezzling Luna and Terra’s corporate funds. According to reports, this theft happened in May 2021. The
