Do Kwon eliminated 10K Bitcoin from Terra after collapse — Takeaways from SEC criticism

A criticism filed by america Securities and Change Fee mentioned co-founder Do Kwon and Terraform Labs laundered greater than $100 million value of from the platform following its collapse in Might 2022.

Based on the SEC criticism filed within the U.S. District Courtroom for the Southern District of New York on Feb. 16, Kwon and Terraform have transferred greater than 10,000 Bitcoin (BTC) from the platform and the Luna Basis Guard to a chilly pockets, then to a Swiss checking account to transform to fiat. The monetary regulator mentioned that the Terra co-founder and his firm might need entry to greater than $100 million in money since withdrawals began in June 2022.

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