Terra · Luna' Kwon Do -hyung US Civil Trial"Recognition of responsibility for deceiving investors"

In a civil lawsuit filed by the US securities authorities, Kwon Do -hyung, who is at the center of the crash of the cryptocurrency 'Terra and Luna', was equal to recognize that Kwon and Terraform Labs were responsible for investors.

According to the Reuters and Bloomberg communication, the New York Southern Court jury recognized the plaintiff's claim that Teraform Labs, co -founded by Kwon and Kwon, was tricked to be safe for the cryptocurrency terra.

In November 2021, the US Securities and Exchange Commission (SEC) filed a civil lawsuit in November 2021, saying that Kwon and Terapom Labs were deceived by investors in relation to Terra's stability.

This trial is a civil trial filed separately from the criminal trials raised against Kwon.Civil trials can be carried out without the defendant without attendance.

Judge Jed Rayoff, who was in charge of the trial, raised the SEC hand early on last December that Terapom Labs, a stable coin (value stabilization coin), sold unregistered securities and violated the securities law.

However, it was necessary to judge the jury of the jury on the 25th of last month.

The SEC claimed that the value of the cryptocurrency terra issued by Terapom Labs fell below $ 1 in May 2021, and it was involved in the market manipulation by secretly contracting with a third party to buy a large amount of terra to support the price.did.

But in May 2022, Terra's value fell to an irreversible state, and the SEC estimated that the entire system collapsed, and investors suffered more than $ 40 billion.

Kwon also promoted that Terraform Labs' blockchain was used in Korea's simple payment application 'difference', but it was not actually used and the publicity was all false.
The SEC lawyer said in the final argument that Tarapom Labs' success story was "based on false," he said.

Terraform Labs argued that the SEC's claim only depends on the testimonies of the witnesses who want to receive internal accusers, but failed to persuade the jury.

The SEC asked the court in this lawsuit to impose a huge punitive compensation for Kwon and Terapom Labs and return illegal interests.Kwon has been escaping and has been detained locally since he was arrested in Montenegro in March last year for counterfeiting his passport.

The peace is expected to affect Kwon's criminal trials in the United States.

Earlier, the New York Prosecutor's prosecution prosecuted him last year for eight charges, including securities fraud, fraud, commodity fraud, and market control contest when Kwon was arrested in Montenegro.

Apart from this, Kwon has been prosecuted in Korea.

Earlier, the Montenegro High Court decided to repatriate Kwon's US repatriation, then reversed it and made a decision to repatriate Korea last month.

However, the Supreme Court of Montenegro reported on the 5th, and sent the case to the centrifugal decision to repatriate the repatriation of Kwon, local media reported.

As a result, Kwon's repatriation is likely to be decided to the United States.