Terraform Labs, the developer of “Terra Luna” and “TerraUSD” cryptocurrencies, filed for chapter within the USA.
Terraform Labs has filed for chapter with a court docket within the US state of Delaware, searching for creditor safety underneath Chapter 11 of the US Chapter Code.
The USA accused Do Kwon, the developer of the “Terra Luna” and “TerraUSD” cryptocurrencies, and his firm Terraform Labs, of “planning a multi-billion greenback crypto asset securities fraud”.
31-year-old Kwon, who was wished on a purple discover, was arrested in Montenegro final yr, and the USA and South Korea requested his extradition.
Kwon can be accused of fraud and violating capital markets regulation in his dwelling nation of South Korea.
