LUNA - Bankrupt Terraform Labs And Founder Do Kwon Reach Historic $4.47B Settlement With The SEC In The UST LUNA Collapse Case | Benzinga
In a significant development, Terraform Labs agreed to a civil settlement of $4.47 Billion with the Securities and Exchange Commission after being found guilty of defrauding cryptocurrency investors during the infamous Terra (CRYPTO: LUNA) implosion in 2022.
What Happened: A jury found Terraform Labs and its disgraced founder, Do Kwon, guilty of defrauding cryptocurrency investors, according to a Reuters report Wednesday. A proposed final judgment was filed in a Manhattan federal court, awaiting approval by U.S. District Judge Jed Rakoff.
The judgment includes $4.05 billion of disgorgement plus interest, and a $420 million civil fine. However, due to Terraform’s bankruptcy filing in January, much of this ...