Terraform Labs 和 Do Kwon 在历史性的加密执法中被罚款 53 亿美元

在一项具有里程碑意义的裁决中，SEC 认定 TerraForm Labs 和 Do Kwon 对 2022 年 Terra Luna 倒塌相关的欺骗行为负有责任。法院提出了 47 亿美元的没收罚款，辩护团队以 350 万美元的和解金额予以反击。该案件凸显了美国证券交易委员会对加密货币欺诈行为的打击以及该行业监管透明度的必要性。

Terraform Labs and Do Kwon Ordered to Pay $5.3 Billion in Historic Cryptocurrency Enforcement Action

Terraform Labs 和 Do Kwon 在历史性的加密货币执法行动中被勒令支付 53 亿美元

New York, NY - April 23, 2024

纽约州纽约市 - 4 月 23 日，

In a landmark ruling that could reshape the cryptocurrency industry, a federal court in Manhattan has found Terraform Labs and its founder, Do Kwon, liable for deceptive practices that led to the collapse of the Terra Luna ecosystem in May 2022. The court has ordered the defendants to pay a staggering $5.3 billion in disgorgement and civil penalties, the largest cryptocurrency-related punitive enforcement ever imposed.

在一项可能重塑加密货币行业的里程碑式裁决中，曼哈顿联邦法院裁定 Terraform Labs 及其创始人 Do Kwon 对导致 2022 年 5 月 Terra Luna 生态系统崩溃的欺骗行为负责。法院已下令被告需支付高达 53 亿美元的没收和民事罚款，这是有史以来实施的最大规模的与加密货币相关的惩罚性执法。

SEC's Deceptive Practice Allegations

SEC 的欺诈行为指控

The Securities and Exchange Commission (SEC) filed suit against Terraform Labs and Kwon in February 2023, alleging that they had engaged in a deceptive marketing campaign that misled investors about the risks associated with TerraUSD (UST), an algorithmic stablecoin that was designed to maintain a stable value of $1. The SEC claimed that the defendants had artificially propped up UST's price through a series of undisclosed and manipulative transactions, creating the illusion that it was a safe and reliable investment.

美国证券交易委员会 (SEC) 于 2023 年 2 月对 Terraform Labs 和 Kwon 提起诉讼，指控他们参与了欺骗性营销活动，误导投资者了解与 TerraUSD (UST) 相关的风险，TerraUSD (UST) 是一种算法稳定币，旨在维护稳定价值为 1 美元。 SEC 声称，被告通过一系列未披露和操纵的交易人为抬高 UST 的价格，制造出这是一项安全可靠的投资的假象。

Terra Luna's Collapse and Devastating Impact

Terra Luna 的崩溃和毁灭性影响

The collapse of UST and its linked cryptocurrency, Terra (LUNA), in May 2022 sent shockwaves through the cryptocurrency market, wiping out billions of dollars in investor wealth and triggering a cascade of liquidations and bankruptcies across the industry. The SEC's investigation revealed that Terraform Labs and Kwon had failed to disclose the risks associated with UST's complex algorithmic design and had actively misled investors about its stability.

2022 年 5 月，UST 及其相关加密货币 Terra (LUNA) 的崩溃给加密货币市场带来了冲击，摧毁了投资者数十亿美元的财富，并引发了整个行业的一系列清算和破产。美国证券交易委员会的调查显示，Terraform Labs 和 Kwon 未能披露与 UST 复杂算法设计相关的风险，并在其稳定性方面积极误导投资者。

Defendants' Defense and SEC's Counterargument

被告的辩护和 SEC 的反驳

Terraform Labs and Kwon denied the SEC's allegations, claiming that the de-pegging of UST was a result of a smart contract breach and not due to any deceptive practices on their part. However, the court rejected this defense, finding that the defendants had made material misstatements about UST's risks and had failed to disclose their manipulative trading activities.

Terraform Labs 和 Kwon 否认了 SEC 的指控，声称 UST 的取消挂钩是智能合约违规的结果，而不是由于他们的任何欺骗行为。然而，法院驳回了这一辩护，认为被告对 UST 的风险做出了重大错误陈述，并且未能披露其操纵交易活动。

The SEC further asserted that UST was never truly pegged to $1, as claimed by the defendants, but was instead subject to significant fluctuations in value and was ultimately under the control of the defendants.

SEC 进一步声称，UST 从未像被告所声称的那样真正与 1 美元挂钩，而是受到价值大幅波动的影响，并最终处于被告的控制之下。

Unprecedented Penalty and Precedence for Crypto Regulation

加密货币监管史无前例的处罚和优先

The court's order requires Terraform Labs to pay $4.7 billion in disgorgement, representing the profits they obtained from their deceptive practices. Kwon himself is ordered to pay $520 million in civil penalties. If the defendants fail to adjust the penalty sum, as suggested by the SEC, this $5.3 billion will surpass Binance's DoJ settlement by approximately $1 billion, marking it as the largest cryptocurrency-related punitive enforcement ever.

法院的命令要求 Terraform Labs 支付 47 亿美元的非法所得，这代表他们从欺骗行为中获得的利润。权本人被责令支付 5.2 亿美元的民事罚款。如果被告未能按照 SEC 的建议调整罚款金额，这 53 亿美元将比币安与司法部的和解金额高出约 10 亿美元，这标志着有史以来规模最大的加密货币相关惩罚性执法。

This landmark ruling is expected to have significant implications for the regulation of cryptocurrency assets and could set a precedent for future enforcement actions against deceptive practices in the industry. Investors and regulators alike are closely monitoring the developments in this case, as it has the potential to shape the future of the cryptocurrency market.

这一具有里程碑意义的裁决预计将对加密货币资产的监管产生重大影响，并可能为未来针对该行业欺诈行为的执法行动树立先例。投资者和监管机构都在密切关注此案的进展，因为它有可能塑造加密货币市场的未来。

Victims Seek Answers and Regulation

受害者寻求答案和监管

Investors who lost billions of dollars in the Terra Luna collapse are seeking answers and accountability from the defendants. The SEC's successful prosecution of this case provides some solace to victims and sends a strong message that deceptive practices in the cryptocurrency market will not be tolerated.

在 Terra Luna 倒闭中损失数十亿美元的投资者正在寻求被告的答案和问责。美国证券交易委员会成功起诉此案，给受害者带来了一些安慰，并发出了一个强烈的信息：加密货币市场的欺骗行为是不会被容忍的。

The Terra Luna case has also raised questions about the adequacy of existing cryptocurrency regulations. Regulators around the world are grappling with the challenges of balancing innovation in the cryptocurrency industry with the need to protect investors from fraud and manipulation. This case is likely to accelerate the development of more robust regulations for the cryptocurrency market.

Terra Luna 案还引发了人们对现有加密货币法规是否充分的质疑。世界各地的监管机构正在努力应对平衡加密货币行业创新与保护投资者免受欺诈和操纵的需要的挑战。此案可能会加速针对加密货币市场制定更严格的法规。