Download App
iOS & Android

South Korean court receives new evidence that Do Kwon intended to deceive investors with fake transactions

On June 17th, according to a report from Yonhap News Agency, there is evidence to suggest that Terraform Labs founder Do Kwon and Chai CEO Daniel Shin planned to deceive Terra investors from the beginning of Terraform Labs. Conversation records between Kwon and Shin show that Kwon told Shin he could generate fake transactions that looked real. In response, Shin said, "Let's experiment on a small scale first and see how it goes." These conversation records have been submitted as evidence to the court by the prosecutor's office in the country.


All Comments

Recommended for you

  • Vitalik: The ultimate decision on the success of cryptocurrency is the practical application of technology

    Vitalik, the co-founder of Ethereum, recently stated on the "Bell Curve" podcast that the actual application of technology determines the success or failure of cryptocurrency. If cryptocurrency can become mainstream, or at least a trusted alternative like Linux, then it can be considered a success.For example, Ethereum accounts can replace social account logins, or cryptocurrency can become a part of the financial system, DAO can become an alternative for enterprises or non-profit organizations, and decentralized social media or prediction markets can succeed.On the other hand, if the cryptocurrency field is remembered as a group of idealists gradually decreasing their cries, or a group of people trading digital monkeys and celebrity photos, it would be a disappointing result.
  • Biden speaks out on withdrawing from 2024 US presidential election

    On the 24th local time, US President Biden gave a speech in the Oval Office of the White House, explaining the reasons for his withdrawal from the 2024 presidential election. On July 21st local time, US President Biden announced his withdrawal from the 2024 presidential election. In a letter posted on his personal social media that day, Biden said that he had intended to seek re-election, but for the best interests of the Democratic Party and the United States, he decided to withdraw from the presidential race and focus on fulfilling his presidential duties during his term.
  • Layered Bitcoin

    Beyond Hard Money
  • Promising New Projects from the Recent Hacker House 2.0 Hackathon

    In June, the Arweave India community initiated a hackathon event that included training camps, team formation, project submissions, and evaluations. The top three projects selected were aoVest, FundARs, and Convergent.
  • PermaDAO Weekly #76|PermaDAO Dev Guild Updates Developer Grant Incentives|7.13-7.19

    In the wave of decentralization, there is a flat boat gently swaying, carrying the dream to sail the sea of Web3.
  • NFTScan ·

    Exploring DN404: An Innovative NFT Standard

    DN-404 represents a groundbreaking standard poised to revolutionize the NFT market by enhancing underlying architecture, offering substantial benefits, and vast application potential.
  • AO is a Paradise for Game Developers

    The AO testnet has been running for nearly six months now, with an increasing number of applications and a continuously flourishing ecosystem.
  • What will LinkLayerAI will bring to the Web world?

    LinkLayerAI aims to explore and implement how to measure the value of each user's behavioral data.
  • US Congressman: Taxing Bitcoin Miners Would Be Bad for America

    US Senator Cynthia Lummis stated that taxing Bitcoin miners would be detrimental to the United States. "The Biden administration's dangerous plan to tax Bitcoin miners is a blatant attack on innovation."
  • Biden makes first public appearance since announcing his withdrawal from the race

    On July 24th, it was reported that Joe Biden made his first public appearance since July 17th, which was also his first public appearance since dropping out of the presidential race. During the event, Biden did not respond to questions from reporters regarding the election or his health. Prior to this, it was announced that Biden would deliver a national address at 8pm EST on Wednesday (8am Beijing time on Thursday).