On June 10, 2022, Terraform Labs founder and CEOslotxo walletDo Kwon appears to be in trouble again. After reports that the Securities and Exchange Commission (SEC) of the United States is trying to deal with money laundering of the person. It also initiated an investigation into Terra's sudden collapse, according to South Korea's Naver news agency and JTBC.

 

Naver reports that JTBC previously reported and anticipated the collapse of the Terra system, but media reports have been overlooked.

It was reported that the US SEC found that the company's funds of 80 million dollars, or about 100 billion won, or over 2.7 billion baht, were transferred to the digital wallet for operating expenses.

It was reported that this happened a few months before the collapse of Terra, prompting Do Kwon money-laundering remarks.

JTBC reported that the US SEC had received several reports saying that “There were dozens of money flowing into the digital wallet,” while one informant said Do Kwon had not received any official funds from the company.


The US SEC is investigating Do Kwon for violating securities laws. From a blockchain service that allows US stocks to be bought with Terra

If this allegation is found to be true Kwon may face legal action in the United States. "Do Kwon is still innocent. until proven guilty of all charges in court.”

South Korean police and prosecutors are investigating Do Kwon's company after his tokens dropped heavily. Causing the global cryptocurrency market to shake