NFT News Official TheBitTimes.com

Slack conversations between Terraform Labs' co-founders Do Kwon and Daniel Shin have exposed their contemplation of orchestrating fraudulent transactions on the Terra blockchain. Terraform Labs co-founder Do Kwon has refuted the significance of Slack messages as evidence , which involved discussions with his co-founder Daniel Shin about manipulating transactions on the Terra blockchain to attract investors. The United States Securities and Exchange Commission (SEC) included the Slack conversation between the two co-founders, which was dated back to September 2019, in a recent court filing. Slack message report between Do Kwon and Daniel Shin. Source: Docdroid The message report suggests the two co-founders were brainstorming strategies to increase investor interest in the Terra blockchain. However, Kwon showed the intention of influencing transactions to create a more appealing image: “I can just create fake transactions that look real.” Kwon further elaborates that these transact...

The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities. South Korean authorities are seeking the extradition of the co-founder and former CEO of Terraform Labs, Do Kwon. The prosecutor overseeing the investigation believes his repatriation would best serve the victims of the TerraUSD (USTC) and LUNA token collapses, The Wall Street Journal reported.  South Korea is the place where most of the crimes Kwon is accused of took place, according to Dan Sung-han, leader of South Korean prosecutors investigating the crash of the two cryptocurrencies, which erased nearly $40 billion from the Terra ecosystem. “Given the nature of this incident, we think investigating the case in South Korea would be the most efficient way of bringing justice” to investors, the prosecutor said in an interview with the newspaper. Do Kwon, also a South Korean citizen, was arrested in Montenegro in March and indic...