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
KuCoin exchange just completed a $150 million fundraising. Spot Grid’s PRO version has been launched by KuCoin. The cryptocurrency exchange KuCoin has denied claims that withdrawals would be halted on their platform due to significant losses caused as a result of the LUNA disaster. The CEO of KuCoin, Johnny Lyu,
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
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
TRL held over 200 stakeholders of the Terra Blockchain community. The disorganized chat created more muddles and misunderstandings. Terra stayed as the constant topic of discussion for more than a month, everyone assumes that they know the whole story, Do they? Terraform Lab (TFL) doesn’t seem to be as genuine
TerraUSD’s failure has shattered the hopes of algorithmic stablecoins. Co-founder of Tether and Ethereum says the structure of UST is defective. The issuer of USDC states that the UST structure is a very high-risk foundation for a stablecoin. The recent market crash of the crypto industry has devastated the hopes
The Terra team’s action has received widespread support from many exchanges. LUNA has difficulty dealing with the entire tragedy and the subsequent occurrences. According to the crypto community members, the distribution of airdrop tokens was lopsided. There was a difficulty with the dispersal of airdrops, and the Terra team acknowledged
Terra’s (Terra 2.0) new blockchain went live on May 28 and the network has been updated with the chain-id Phoenix-1. The open price of LUNA was $18.98 and the trading volume was $281,599,801. But since the re-launch of the new Terra network coin LUNA has dropped by over 69% within
The past two weeks have seen an extreme bear market in the history of crypto. Terra (LUNA) has once ranked among the 10 most valuable cryptocurrencies in the market and had an all time high at the price of $119.5. By May 11, however, the price of the asset had
As a matter of fact, the crypto fever started earlier this month and the panic level raised among the entire crypto market. Being in this state, $LUNA – a popular crypto token which was waving its flag high, suddenly dropped down hitting to the lowest at $0. As soon as
