美国证券交易委员会 (SEC) 在曼哈顿审判中指控 Terraform Labs 和 Do Kwon 存在“纸牌屋”欺诈行为

在 SEC 对 Terraform Labs 及其创始人 Do Kwon 进行的民事欺诈审判中，SEC 指控被告在 TerraUSD 的稳定性方面误导了投资者，TerraUSD 是一种本应保持 1 美元价值的稳定币。美国证券交易委员会还声称，Terraform 错误地表示其区块链用于韩国流行的移动支付应用程序。 Kwon 的律师辩称，SEC 的案件依赖于选择性证据，并且 Terra 的加密货币从未被认为是无风险的。

SEC Accuses Terraform Labs and Do Kwon of "House of Cards" Fraud in Manhattan Trial

美国证券交易委员会 (SEC) 指控 Terraform Labs 和 Do Kwon 在曼哈顿审判中涉嫌《纸牌屋》欺诈

On Monday, the Securities and Exchange Commission (SEC) commenced a civil fraud trial in Manhattan, alleging that Terraform Labs and its founder, Do Kwon, perpetrated a "house of cards" by misrepresenting the stability of TerraUSD (UST), a stablecoin designed to maintain a value of $1. The SEC further asserts that Terraform falsely claimed its blockchain was utilized in a popular Korean mobile payment app.

周一，美国证券交易委员会 (SEC) 在曼哈顿启动民事欺诈审判，指控 Terraform Labs 及其创始人 Do Kwon 歪曲了 TerraUSD (UST) 的稳定性，犯下了“纸牌屋”罪。维持1美元的价值。美国证券交易委员会进一步声称，Terraform 错误地声称其区块链被用于韩国流行的移动支付应用程序。

SEC attorney Devon Staren opened the trial with a scathing indictment, declaring that "Terra was a fraud, a house of cards, and when it collapsed, investors lost nearly everything." In contrast, Terraform's attorney, Louis Pellegrino, dismissed the SEC's case as relying on selective evidence and the testimony of potential whistleblower informants. Kwon's attorney, David Patton, emphasized that Kwon never portrayed Terra's cryptocurrency as risk-free.

美国证券交易委员会律师德文·斯塔伦 (Devon Staren) 在审判开始时提出了严厉的起诉书，宣称“Terra 是一个骗局，是一座纸牌屋，当它倒塌时，投资者几乎失去了一切。”相比之下，Terraform 的律师 Louis Pellegrino 驳回了 SEC 的案件，称其依赖于选择性证据和潜在举报人的证词。 Kwon 的律师 David Patton 强调，Kwon 从未将 Terra 的加密货币描述为无风险。

Kwon's Absence and Extradition Proceedings

权某缺席和引渡程序

Do Kwon is notably absent from the trial as he was arrested in Montenegro in March 2023 and is currently awaiting extradition to South Korea, where he faces criminal charges. A Montenegro court recently delayed his extradition, citing concerns raised by the prosecutor's office. Federal prosecutors in New York have also charged Kwon with fraud and are seeking his extradition to the United States.

值得注意的是，Do Kwon 于 2023 年 3 月在黑山被捕，目前正在等待引渡到韩国，他在韩国面临刑事指控，因此他缺席了审判。黑山一家法院最近以检察官办公室提出的担忧为由推迟了对他的引渡。纽约联邦检察官也指控权犯有欺诈罪，并正在寻求将他引渡到美国。

The TerraUSD Collapse and its Market Impact

TerraUSD 崩溃及其市场影响

Kwon conceived both TerraUSD and Luna, a volatile token linked to TerraUSD. The SEC estimates that investors lost over $40 billion in these two tokens when TerraUSD's peg to the dollar failed in May 2022. The collapse not only dragged down the value of other cryptocurrencies, including Bitcoin, but also wreaked havoc in the broader crypto market, leading to multiple company bankruptcies.

Kwon 构思了 TerraUSD 和 Luna，这是一种与 TerraUSD 挂钩的波动性代币。美国证券交易委员会估计，2022 年 5 月 TerraUSD 与美元挂钩失败后，投资者在这两种代币上损失了超过 400 亿美元。这次崩溃不仅拖累了包括比特币在内的其他加密货币的价值，还对更广泛的加密货币市场造成了严重破坏，导致导致多家公司破产。

SEC's Allegations of Market Manipulation and Misrepresentation

美国证券交易委员会对市场操纵和虚假陈述的指控

The SEC alleges that Kwon and Terraform secretly arranged for a third party to purchase large amounts of TerraUSD to prop up its price when the stablecoin deviated from its peg in May 2021. The regulator contends that Kwon falsely attributed the recovery to the robustness of TerraUSD's algorithms.

美国证券交易委员会 (SEC) 指控，当稳定币 2021 年 5 月偏离锚定汇率时，Kwon 和 Terraform 秘密安排第三方购买大量 TerraUSD 以支撑其价格。监管机构认为，Kwon 错误地将价格回升归因于 TerraUSD 算法的稳健性。

Additionally, the SEC claims that Kwon and Terraform falsely advertised Terraform's blockchain as the processor of transactions on the Chai payment app. Terraform and Kwon have denied any wrongdoing and assert that the SEC has taken their statements out of context.

此外，SEC 声称 Kwon 和 Terraform 错误地将 Terraform 的区块链宣传为 Chai 支付应用程序上的交易处理器。 Terraform 和 Kwon 否认有任何不当行为，并声称 SEC 断章取义。

SEC's Remedies and Legal Precedents

SEC 的补救措施和法律先例

The SEC is seeking civil financial penalties and injunctions barring Kwon and Terraform from the securities industry. In December, US District Judge Jed Rakoff granted the SEC a partial victory by ruling that Terraform Labs had illegally sold digital assets without registering them as securities. However, the judge dismissed the SEC's allegations that Terraform and Kwon offered illegal security-based swaps.

美国证券交易委员会正在寻求民事经济处罚和禁令，禁止 Kwon 和 Terraform 进入证券行业。去年 12 月，美国地区法官 Jed Rakoff 裁定 Terraform Labs 在未将数字资产注册为证券的情况下非法出售数字资产，从而使 SEC 获得部分胜利。然而，法官驳回了 SEC 关于 Terraform 和 Kwon 提供非法基于证券的互换的指控。

The amount of damages that Terraform must pay has yet to be determined, but the company, which filed for bankruptcy protection in January, has indicated that a penalty could exceed its assets. The trial is expected to continue for several weeks, and its outcome will have significant implications for the cryptocurrency industry and the regulation of digital assets.

Terraform 必须支付的损害赔偿金额尚未确定，但该公司已于 1 月份申请破产保护，并表示罚款可能超过其资产。该审判预计将持续数周，其结果将对加密货币行业和数字资产的监管产生重大影响。