具有里程碑意義的加密詐欺審判在紐約開庭：Terraform 和 Kwon 面臨 SEC 指控

TerraUSD 和 Luna 是價值掛鉤的加密貨幣，由 Do Kwon 設計。 SEC 指控 Kwon 和 Terraform Labs 在 2021 年就 TerraUSD 的穩定性誤導投資者。檢察官指控 Terraform 在韓國流行的行動支付應用程式中使用區塊鏈的虛假說法。 Terraform 的律師聲稱產品表述存在上下文誤述和透明度。

Landmark Crypto Fraud Trial Commences in New York

具有里程碑意義的加密貨幣詐欺審判在紐約開始

Introduction:
In a highly anticipated legal proceeding that has sent shockwaves through the digital currency industry, the civil fraud trial against Terraform Labs and its founder, Do Kwon, has commenced in Manhattan, New York. The United States Securities and Exchange Commission (SEC) has leveled serious allegations against the defendants, accusing them of misleading investors and engaging in fraudulent practices that contributed to the collapse of two of the company's cryptocurrencies, TerraUSD and Luna.

劇情簡介：在一場備受期待、震撼數位貨幣產業的法律訴訟中，針對 Terraform Labs 及其創始人 Do Kwon 的民事詐欺審判已在紐約曼哈頓開始。美國證券交易委員會（SEC）對被告提出了嚴重指控，指控他們誤導投資者並參與欺詐行為，導致該公司的兩種加密貨幣 TerraUSD 和 Luna 崩潰。

SEC's Case:
The SEC alleges that TerraUSD, a stablecoin designed to maintain a value of US$1, was misrepresented by Terraform and Kwon as a stable and low-risk investment. According to the agency's complaint, the defendants intentionally concealed material information about the coin's underlying mechanism, which was vulnerable to market fluctuations and was not as secure as advertised.

SEC 的案例：SEC 指控 TerraUSD 是一種旨在維持 1 美元價值的穩定幣，Terraform 和 Kwon 將其錯誤地描述為穩定且低風險的投資。根據該機構的訴狀，被告故意隱瞞有關代幣底層機制的重要訊息，該機制容易受到市場波動的影響，而且並不像宣傳的那樣安全。

Furthermore, the SEC accuses Terraform of falsely claiming that its blockchain technology was widely adopted by a popular Korean mobile payment app. This alleged misrepresentation is said to have artificially inflated the value of both TerraUSD and Luna, leading investors to believe that the tokens were backed by a solid foundation.

此外，美國證券交易委員會還指控 Terraform 錯誤地聲稱其區塊鏈技術已被韓國流行的行動支付應用程式廣泛採用。據稱，這種所謂的不實陳述人為誇大了 TerraUSD 和 Luna 的價值，導致投資者相信這些代幣有堅實的基礎支持。

Terraform's Defense:
Terraform and Kwon have vehemently denied the SEC's allegations. In their opening statements, defense attorneys argued that the SEC has misconstrued statements made by the defendants and that Terraform was transparent about the risks associated with its products. They maintain that both TerraUSD and Luna were not securities and, therefore, not subject to the SEC's jurisdiction.

Terraform 的辯護：Terraform 和 Kwon 強烈否認 SEC 的指控。辯護律師在開庭陳述中辯稱，SEC 誤解了被告的陳述，並且 Terraform 對其產品相關風險保持透明。他們認為 TerraUSD 和 Luna 都不是證券，因此不受 SEC 的管轄。

Collapse of TerraUSD and Luna:
The SEC's civil action stems from the catastrophic collapse of TerraUSD and Luna in May 2022. The unraveling of the algorithmic stablecoin, which had maintained its peg to the dollar through a complex mechanism involving Luna, triggered a severe market meltdown. The two tokens plummeted in value, wiping out billions of dollars in investor funds.

TerraUSD 和 Luna 的崩潰：SEC 的民事訴訟源於 2022 年 5 月 TerraUSD 和 Luna 的災難性崩潰。透過涉及 Luna 的複雜機制維持與美元掛鉤的演算法穩定幣的解體引發了嚴重的市場崩潰。這兩種代幣的價值暴跌，損失了數十億美元的投資者資金。

According to the SEC, investors lost more than US$40 billion during the collapse. The agency's investigation revealed that Terraform and Kwon allegedly profited from the scheme by selling TerraUSD and Luna tokens before the market crash.

據 SEC 稱，投資者在崩盤期間損失超過 400 億美元。該機構的調查顯示，Terraform 和 Kwon 據稱透過在市場崩盤前出售 TerraUSD 和 Luna 代幣從該計劃中獲利。

Legal Implications:
The Terraform Labs trial is being closely watched by industry observers, legal experts, and investors alike. The outcome of the case could have significant implications for the regulation of cryptocurrencies, stablecoins, and the digital asset market as a whole.

法律影響：Terraform Labs 的試驗正在受到行業觀察家、法律專家和投資者的密切關注。該案的結果可能會對加密貨幣、穩定幣和整個數位資產市場的監管產生重大影響。

If the SEC prevails, it could set a precedent for holding cryptocurrency companies and executives accountable for misleading investors and engaging in fraudulent practices. This could lead to increased scrutiny of the industry and potential regulatory action against other crypto firms.

如果美國證券交易委員會獲勝，它可能會開創一個先例，要求加密貨幣公司和高階主管對誤導投資者和從事詐欺行為負責。這可能會導致對該行業的嚴格審查以及針對其他加密貨幣公司的潛在監管行動。

Conversely, if Terraform and Kwon are exonerated, it could signal a lack of regulatory clarity in the cryptocurrency space and create uncertainty for investors. It could also embolden other companies to make potentially risky claims about their crypto products.

相反，如果 Terraform 和 Kwon 被證明無罪，則可能表明加密貨幣領域缺乏明確的監管，並給投資者帶來不確定性。它還可能鼓勵其他公司對其加密產品提出潛在風險的主張。

Arrests and Extraditon:
Following the collapse of TerraUSD and Luna, law enforcement officials intensified their investigation into Terraform Labs and its founder. In March 2023, Kwon was arrested in Montenegro. His extradition to the United States is currently underway, and he is expected to face criminal charges in addition to the SEC's civil action.

逮捕和引渡：在 TerraUSD 和 Luna 崩潰後，執法官員加強了對 Terraform Labs 及其創始人的調查。 2023 年 3 月，權在黑山被捕。他被引渡到美國的工作目前正在進行中，除了美國證券交易委員會的民事訴訟外，預計他還將面臨刑事指控。

Global Impact:
The Terraform Labs trial has captured global attention, raising concerns about the safety and stability of cryptocurrencies. It has also highlighted the need for robust regulatory frameworks to protect investors and prevent future market meltdowns.

全球影響：Terraform Labs 試驗引起了全球關注，引發了人們對加密貨幣安全性和穩定性的擔憂。它還強調需要建立強有力的監管框架來保護投資者並防止未來的市場崩潰。

As the trial progresses, it is expected to shed light on the inner workings of the cryptocurrency industry and its potential risks. The outcome will have far-reaching implications for the regulation and development of the digital asset ecosystem.

隨著試驗的進展，預計將揭示加密貨幣產業的內部運作及其潛在風險。其結果將對數位資產生態系統的監管和發展產生深遠影響。