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Terraform Labs and Do Kwon found liable for defrauding crypto investors.
While Do Kwon remains in Montenegro awaiting extradition, the SEC’s lawsuit against him and Terraform Labs has concluded, with the jury ruling (PDF) they acted recklessly and are liable following the UST stablecoin’s collapse in 2022. Reuters reports the agency is seeking civil financial penalties and bans on both Kwon and Terraform.
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