The United States is not giving up – While one case chases the other in the news, we had almost forgotten some Do Kwon and the fall of Terra (LUNA). But the FBI and the New York district attorney’s office have no intention of shelving this file and are continuing their investigations in order to bring the founder of the project to justice. From the filing of a complaint by the Securities and Exchange Commission (SEC) last February, investigators are asking questions and are now reportedly considering a criminal complaint in addition to the civilian.
The FBI and DA’s Frequently Asked Questions
According to information from the always well-informed wall street journalthe US Department of Justice is reportedly investigating the collapse of the UST. We don’t really dare to use the term stablecoin anymore, because history shows us every day that this concept is rather fluid. In short, we already knew that the DRY filed a complaint with the court of the Southern District of New York, but with the intervention of the Department of Justice, things take a bit more important twist.
‘Cause it’s now becoming a affair criminal And Do Hyeong Kwon could face jail time. In this context, the investigators carry out interrogations to try to understand what happened last year when the UST suddenly collapsed. The FBI and the New York Southern District Attorney’s Office are in the firing line and are asking questions of former staff members of Terraform Labs on this subject.
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Possible criminal charges in addition to civil against Do Kwon
Justice would particularly like to know the nature of the relationship between the famous company Chai and Terraform Labs. According to initial findings, Chai was used to perform millions of phantom transactions and thus drive up volumes on the blockchain. Which, of course, is completely illegal.
Finally, to complete this investigation, and this time they are journalists from Bloomberg who affirm it, the investigators would also examine discussion groups between different companies and Terraform Labs. These would be Jump Trading Group, Alameda Research and Jane Street Group. This would concern a possible bailout of the UST which never took place and a possible market manipulation.
Thus the noose is tightening around the much maligned Do Kwon who continues to evade American and South Korean justice. He totally denies being on the run, but this is not the opinion of the judicial authorities who would like to question him in an office. Last I heard, the fugitive may have been in Serbia at the beginning of February.
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