Do Kwon, Terraform Labs Should Get $5.3B Fine, SEC Tells Court
Summary
The SEC seeks $5.3 billion in fines from Terraform Labs and Do Kwon for fraud related to the Terra ecosystem collapse. The SEC alleges over $4 billion in ill-gotten gains. They also seek injunctions and officer-and-director bans. Terraform Labs disputes the SEC's requests, claiming only appropriate civil penalties should be imposed. Kwon, currently in Montenegro, faces pending criminal charges and extradition requests from the U.S. and South Korea.
