Do Kwon, Terraform Labs Found Liable for Fraud in SEC Trial (3)

Terraform Labs Pte. and co-founder Do Kwon were found liable for fraud in a US government lawsuit over the firm’s 2022 collapse, which wiped out $40 billion in investor assets and shook the cryptocurrency world.

After a two-week trial in New York, a jury on Friday found Kwon and Terraform misled investors, handing the US Securities and Exchange Commission a boost in its efforts to assert greater control over the crypto industry. The verdict also could be a preview of pending criminal cases against Kwon in the US and South Korea, though the criminal standard for guilt is higher. ...