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Cryptocurrency Entrepreneur Do Kwon and Terraform Labs to Face Fraud Allegations by SEC, Judge Rules

Do Kwon, the creator of the failed Terra stablecoin, has been taken to court in Montenegro to face charges of forging official documents. In the US, Terraform Labs and its founder, Kwon, have been ordered to face fraud allegations brought by the Securities and Exchange Commission (SEC) regarding the sale of unregistered securities. The SEC alleges that Kwon and Terraform Labs misled investors about the stability of their cryptocurrency tokens, leading to billions of dollars in losses. The case will move forward, according to US District Judge Jed Rakoff's ruling.

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