• About
  • Contact Us
Tuesday, June 28, 2022
Cryptos Newz
No Result
View All Result
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
No Result
View All Result
Cryptos Newz
No Result
View All Result
Home Cryptocurrency News

Terra Founder Sent $80 Million in LUNA and UST to His Wallets Every Month: FXStreet

Crptoz by Crptoz
June 10, 2022
in Cryptocurrency News
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Bitcoin Bearish Signal: Coinbase Receives Large Inflows | Bitcoinist.com

Bitcoin “Reserve Risk” Metric Approaches All-Time Lows


article image
Yuri Molchan

According to data reportedly shared by the SEC, Du Kwon cashed in over $80 million in Terra’s crypto on a monthly basis before the whole thing collapsed.

According to a report by FXStreet, the founder of Terra Do Quon took care of his own well-being before the LUNA and UST crashed by moving $80 million worth of these coins to his wallet and redeeming them.

FXStreet cites SEC employees, who prefer to remain anonymous, as the source of this settlement data.

The SEC Is Investigating Terra and Do Kwon

Terra and its founder Do Kwon are currently being investigated by the US SEC as they suspect Kwon of money laundering. Now, the SEC is investigating the collapse of LUNA and UST.

According to South Korean news agencies Naver and JTBC, the SEC recently conducted some remote video surveillance of several of Terra’s top designers and chose to focus on the poorly designed architecture of the Terra blockchain.

advertisement

Was Kwon stealing Terra’s money?

According to the same news source, the SEC reported that more than $80 million worth of LUNA (now rebranded as LUNC) and UST were moved from company funds on a monthly basis and sent to various wallets, seemingly That was from Do Kown. Cover operating expenses.

According to the SEC, the Terra chief began withdrawing these funds several months before the Terra token crash. Therefore, the regulatory agency found it suspicious and related to money laundering.

According to an unnamed high-ranking Terra employee, Kwon did not receive any official payments from Terra.

Currently, Kwon is suspected of violating the Securities Act because the SEC thinks he could possibly buy US securities using Terra’s crypto. Should these suspicions be true, Do Kwon will be ready for legal action in the US

crypto twitter reaction

Crypto Twitter has shown a somewhat neutral reaction to the fact that it was stolen just before the downfall of the founder of Terra. However, some people are outraged.

Crypto analyst Michael van de Pope tweeted that he believed Kwon deserved to go to jail for escaping a lot of cash while LUNA was losing investors a lot of cash. He also compared Kwon to the notorious American fraudster Bernie Madoff, who had been imprisoned, insisting that the same should happen to Du Kwon.

The fact that Do Kwon is sending $80 million toward his own wallet.

To be honest, he deserves jail.

Many investors have lost a lot of money and just walk away with a big bunch of money.

Even Madoff ended up in jail.

He deserves it too.

— Michael van de Pope (@CryptoMichNL) 9 June 2022

Related Posts

Cryptocurrency News

Bitcoin Bearish Signal: Coinbase Receives Large Inflows | Bitcoinist.com

June 28, 2022
Cryptocurrency News

Bitcoin “Reserve Risk” Metric Approaches All-Time Lows

June 28, 2022
Cryptocurrency News

Roger Ver Allegedly Defaults on CoinFLEX for $47 Million

June 28, 2022
Cryptocurrency News

Two Virginia Men Arrested for Planning Bitcoin Robbery in NYC Home Two Virginia Men Arrested for Planning BTC robbery in NYC Home 2 Years Ago

June 28, 2022
Cryptocurrency News

Roger Ver Owes CoinFLEX $47 Million: CEO

June 28, 2022
Cryptocurrency News

MakerDAO May Invest in Bonds

June 28, 2022
Next Post

Jay-Z, Jack Dorsey Launch Bitcoin Academy for Financial Education

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Man Who Broke into Terra Founder’s House Was Crypto Investor Who Lost 3 Billion Won

May 16, 2022

When SHIB? Robinhood CBO States They Seek Compliant Ways to Increase Crypto Offering

February 9, 2022

Dock Launches Ambassador Program – Press release Bitcoin News

January 17, 2022

Why You Should Stack Sats To Celebrate Father’s Day

June 19, 2022

Ted Cruz: Texas Should Be “Ground Zero” for Crypto Industry

March 3, 2022

EDITOR'S PICK

Japanese Government Reportedly Set To Freez Stolen Crypto – Assets By Passing New Law

June 8, 2022

After Terra, Many Cryptocurrencies could See Major Crash in Coming Days

June 4, 2022

I Can See SHIB Touching $0.001: David Gokhshtein

April 13, 2022

Ethereum Price Show Signs Of Bullish Reversal: Fake Out or Actual Bounce? What’s Next

May 7, 2022

About

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow us

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Cryptocurrency News
  • Ethereum News
  • How To Buy Crypto
  • News
  • Uncategorized

Recent Posts

  • CoinFLEX Says ‘Bitcoin Jesus’ Roger Ver Is Behind Its Withdrawal Troubles, $47M Debt – Decrypt
  • Bitcoin Bearish Signal: Coinbase Receives Large Inflows | Bitcoinist.com
  • Bitcoin “Reserve Risk” Metric Approaches All-Time Lows
  • Roger Ver Allegedly Defaults on CoinFLEX for $47 Million
  • Home
  • News
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.