A South Korean court has ordered the freeze of 120 billion won ($92 million) of the former and CEO of Kernel Labs, a Terraform Labs subsidiary, according to the court.report of The Korea Economic Daily on December 20 Founded in 2018, Kernel Labs is a blockchain consulting firm focused on decentralized applications and blockchain payment systems. Kernel Labs is closely associated with Terraform Labs as CEO Kim Hyun-joong was.hold a positionVP of Engineering at Terraform Labs, according to sources. Kernel...
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Dirk Steffens "Terra X" moderator receives quiz show on RTL Dirk Steffens can be seen in 2023 in "Around the World in 55 Questions - The Great GEO Show". © Photo: RTL / Elias Hassos In a new RTL quiz show, science journalist Dirk Steffens and presenter Sonja Zietlow want to test five celebrities. In the new RTL quiz show "In 55 questions around the world - The big GEO show", science journalist Dirk Steffens (55) wants to send five...
According to a Dec. 3 report from South Korea's Yonhap news agency, Judge Hong Jin-Pyo said There is little risk that Shin Hyun-seong, a former Terra employee, will destroy evidence related to the case. and canceled an arrest warrant issued by the Seoul Southern District Attorney on November 29. The report adds that Terra co-founder Do Kwon, who is facing legal action in South Korea for his role in the company's collapse, is facing legal action in South Korea. Unlikely...
South Korean court orders seizure of Terra co-founder's assets A South Korean court has ordered the seizure of $104 million worth of Terra co-founder Shin Hyun-seong's assets after it was discovered that LUNA tokens were offered to investors before the coin's launch. The court considered that this money may be profit that was illegally earned. The court will hold Shin's assets until it can be verified that the profits were not illegal. However, Shin's lawyers denied this, saying that reports...
About fresh fish and almond cigars, about the search for identity in cosmopolitan families: writer Daniel Speck, who is rooted in different cultures himself, has written a homage to the Mediterranean region.A fish climbs the wall. This could be the beginning of a wondrous story. And really: For Daniel Speck, transporting a grouper from Jaffa to Bethlehem meant much more than just contributing to a meal. On that day, the fish forged a bond between people who otherwise can hardly...
Do Kwon, co-founder of Terraform Labs, is facing legal action in South Korea and the United States. The latest is being sued in Singapore along with the Luna Foundation Guard (LFG) and Terra founder Nicholas Platias. In a lawsuit filed in Singapore's High Court on September 23, more than 359 victims identified Kwon, Platias, LFG and Terra as fraud, including TerraUSD (UST), now TerraUSD Classic (USTC), not "stable from design” and unable to maintain its peg against the US dollar....
The Terra Classic developers have reduced the 'burn tax' charged on all Terra Classic (LUNC) token transactions from 1.2% to 0.2% as the former rate was considered to reduce network activity. The updated rates go into effect at 8:50 a.m. ET after the community voted on governance.”Proposal 5234,” to reduce the number of tokens burned in each transaction. Last month Terra Classic passed the voteto keep 1.2% for each LUNC transaction, and to burn that amount in an effort to...
Nearly 4,400 former Terraform Labs investors have formed the UST Restitution Group (URG) in an effort to find Do Kwon, the man behind the failed firm, according to the Financial Times. report Many people in that group Reportedly they lost their life's savings when Terra fell, and they're now searching the internet for clues about the founder's whereabouts. and share your findings in the Discord group. South Korean court issuedarrest warrant Do Kwon a month ago and interpolissue a red...
Terraform Labs co-founder Do Kwon has denied news claims he is fleeing law enforcement, although Interpol issued a "red notice" for his arrest last month. In an interview with Laura Shin on the “Unchained” podcast, Do Kwon explained that he moved to Singapore from South Korea before the collapse of the Terra ecosystem. “There is no reason for government officials to believe we fled to Singapore,” Kwon said. Kwon has also denied claims that any of his funds have been...
