South Korean Regulators To Toughen Crypto Fraud Punishments
South Korean Regulators plan to strengthen regulations, with safeguarding investors in virtual assets, and toughening the penalties.. Local media reports that the Financial Services Commission (FSC) and the National Assembly are working to pass a bill that would allow financial authorities to supervise cryptocurrency exchanges and monitor unfair trade practices like the use of confidential […]
Massive Loss For Crypto Lender Hodlnaut in Terra Crash
A court report said that the crypto lender’s directors “played down” how much risk the company had in the Terra ecosystem. A legal report is said to have shown that Hodlnaut lost about $189.7 million because of its exposure to the Terra crash. Bloomberg says that the report, which was written by interim judicial managers […]
Terra Co-founder Faces $57-million Lawsuit In Singapore
The lawsuit alleges Kwon made fraudulent claims “either knowing that they were false, or not caring whether they were true or false.” Along with the Luna Foundation Guard (LFG) and Terra founding member Nicholas Platias, Do Kwon, the co-founder of Terraform Labs who may be subject to legal action in South Korea and the United […]
Key witness at Terra parliamentary inquiry did not show up
Kim Seo-joon, CEO of venture capital firm Hashed, one of the key witnesses who was absent at the Terra’s parliamentary investigation explained it was due to “severe stress” caused by the Terra catastrophe. According to a Korea Economic Daily article published on October 24, Seo-joon was one of six individuals chosen to participate in the […]
Discord community members search for Terra’s Do Kwon
The UST Restitution Group (URG), a Discord community with 4,400 members, has been searching for Terra co-founder Do Kwon’s whereabouts following the crash of the Terra ecosystems’ cryptocurrencies. Members of the group Discord community are searching the internet for leads and sharing them with the group in an apparent effort to find Kwon after becoming […]