加密货币大佬 Do Kwon 因 Terra 崩溃而面临日益激烈的法律斗争

Do Kwon: The Crypto Kingpin Behind the Terra Collapse

Do Kwon：Terra 崩溃背后的加密货币头目

Amid the tumultuous saga of the crypto world, Do Kwon, the enigmatic founder of Terraform Labs, stands as a towering figure in the wreckage of the Terra ecosystem. While his counterpart Sam Bankman-Fried of FTX garnered widespread notoriety, Kwon's insidious scheme, which wiped out tens of billions of dollars, has flown largely under the radar.

在加密世界的动荡传奇中，Terraform Labs 神秘的创始人 Do Kwon 在 Terra 生态系统的废墟中屹立着一个高耸的人物。尽管 FTX 的同行萨姆·班克曼-弗里德 (Sam Bankman-Fried) 声名狼藉，但 Kwon 的阴险计划却在很大程度上引起了人们的注意，该计划损失了数百亿美元。

Like Bankman-Fried and Theranos' Elizabeth Holmes, the 32-year-old Kwon captivated the imagination of investors worldwide. Armed with an impressive technological pedigree, having graduated from Stanford University in computer science in 2015, he worked for Apple and Microsoft before venturing into the alluring realm of cryptocurrency.

与 Bankman-Fried 和 Theranos 的 Elizabeth Holmes 一样，32 岁的 Kwon 吸引了全世界投资者的想象力。他拥有令人印象深刻的技术背景，于 2015 年从斯坦福大学计算机科学专业毕业，在进入诱人的加密货币领域之前，他曾在苹果和微软工作过。

In 2018, Kwon founded Terraform Labs, promising to apply his coding prowess to revolutionize the crypto landscape. His vision caught the attention of esteemed publications like Forbes, which featured him in its prestigious 30 under 30 list in 2019. He became a regular presence at crypto conferences, rubbing shoulders with the who's who of the industry.

2018 年，Kwon 创立了 Terraform Labs，承诺运用他的编码能力彻底改变加密货币领域。他的愿景引起了《福布斯》等知名刊物的关注，并在 2019 年将他列入著名的 30 位 30 岁以下人物名单中。他成为加密货币会议的常客，与行业名人擦肩而过。

However, Kwon's genius concealed a sinister underbelly. He created the cryptocurrency Luna, earning him the moniker "King of Lunatics" from Bloomberg. With audacious confidence, he even named his daughter Luna, announcing her birth in April 2022 with the declaration: "My dearest creation named after my greatest invention."

然而，权的天才隐藏着险恶的弱点。他创造了加密货币 Luna，并为他赢得了彭博社“疯子之王”的绰号。怀着大胆的自信，他甚至给自己的女儿取名为 Luna，并宣布她将于 2022 年 4 月出生，并宣布：“我最亲爱的创造物以我最伟大的发明命名。”

To complement Luna, Kwon introduced TerraUSD, a so-called stablecoin pegged to the US dollar, ensuring its value would remain constant at $1. At its peak in April 2022, Terra-related coins commanded a market cap of approximately $60 billion, according to Bitstamp. A month later, it plummeted to near zero.

为了补充 Luna，Kwon 推出了 TerraUSD，一种与美元挂钩的所谓稳定币，确保其价值保持在 1 美元不变。据 Bitstamp 称，在 2022 年 4 月达到顶峰时，Terra 相关代币的市值约为 600 亿美元。一个月后，它暴跌至接近于零。

For the observant, signs of impending catastrophe were evident. The Terra blockchain's lending-and-borrowing program offered an astonishing 20 percent interest, a red flag that ignited skepticism. In early May, the worst fears were realized when investors triggered a devastating selloff, causing TerraUSD and Luna to collapse. By May 9, TerraUSD hovered around $0.35 instead of its pegged $1, while Luna's price plummeted 96 percent in a single day, dropping to a mere $0.10.

对于善于观察的人来说，灾难即将来临的迹象是显而易见的。 Terra 区块链的借贷计划提供了惊人的 20% 利息，这是一个引发怀疑的危险信号。 5 月初，当投资者引发毁灭性抛售、导致 TerraUSD 和 Luna 崩溃时，最糟糕的担忧成为了现实。到 5 月 9 日，TerraUSD 徘徊在 0.35 美元左右，而不是固定的 1 美元，而 Luna 的价格单日暴跌 96%，跌至仅 0.10 美元。

Months before the Terra ecosystem crumbled, Kwon reveled in a lavish wedding ceremony, gleefully posting updates on social media. Today, he shares a young daughter with his wife. However, his marital bliss has been overshadowed by a litany of lawsuits and criminal charges.

在 Terra 生态系统崩溃的几个月前，Kwon 陶醉于一场奢华的婚礼，并在社交媒体上兴高采烈地发布了最新动态。如今，他与妻子育有一个小女儿。然而，他的婚姻幸福被一连串的诉讼和刑事指控所掩盖。

Astute venture capital firms like Pantera Capital, Hack VC, and the Winklevoss Twins' CMCC Capital recognized Kwon's deceptive scheme and exited months before the collapse. Pantera reportedly reaped a 100-fold return on its $1.7 million investment in Luna.

Pantera Capital、Hack VC 和 Winklevoss Twins 旗下的 CMCC Capital 等精明的风险投资公司认识到了 Kwon 的欺骗性计划，并在倒闭前几个月退出。据报道，Pantera 对 Luna 的 170 万美元投资获得了 100 倍的回报。

Instead of facing the consequences immediately, Kwon spent months evading capture by US and South Korean authorities, exploiting loopholes and tweeting defiantly. His evasion tactics ended abruptly with his arrest in Montenegro in March 2023. Police apprehended him with forged Costa Rican travel documents, preventing his escape to Dubai.

权没有立即面对后果，而是花了几个月的时间躲避美国和韩国当局的抓捕，利用漏洞并挑衅性地发推文。 2023 年 3 月，他在黑山被捕，他的逃亡策略戛然而止。警方使用伪造的哥斯达黎加旅行证件逮捕了他，阻止他逃往迪拜。

Kwon now faces a multitude of criminal accusations from his native South Korea and the Southern District of New York, the same jurisdiction that prosecuted Bankman-Fried and sentenced him to 25 years in prison. Both countries are engaged in a fierce battle to extradite the elusive Kwon.

权现在面临着来自韩国和纽约南区的多项刑事指控，纽约南区曾起诉班克曼-弗里德并判处他 25 年监禁。两国都在为引渡难以捉摸的权正进行着激烈的斗争。

Amid this legal quagmire, the Securities and Exchange Commission (SEC) dealt Kwon and Terraform Labs a severe blow on April 19, ordering them to pay a hefty $5.3 billion in penalties. The SEC also sought to bar Kwon from holding any leadership roles in companies that issue securities.

在这场法律泥潭中，美国证券交易委员会 (SEC) 于 4 月 19 日对 Kwon 和 Terraform Labs 造成了沉重打击，责令他们支付 53 亿美元的巨额罚款。美国证券交易委员会还试图禁止权在发行证券的公司中担任任何领导职务。

In April, a Manhattan jury found Kwon and his company civilly liable for misleading investors before the 2022 collapse. The SEC's investigation revealed that Kwon had allegedly fabricated claims that South Korean payment app Chai employed Terraform's proprietary blockchain technology when, in reality, it utilized conventional payment systems.

今年 4 月，曼哈顿的一个陪审团裁定 Kwon 及其公司在 2022 年倒闭之前误导投资者，需承担民事责任。美国证券交易委员会的调查显示，Kwon 涉嫌捏造声称韩国支付应用程序 Chai 采用了 Terraform 的专有区块链技术，而实际上该应用程序使用的是传统支付系统。

The damning allegations against Kwon have drawn comparisons to another fallen star in the startup world: Elizabeth Holmes. Like Kwon, Holmes faced accusations of deception for promoting faulty blood testing machines.

针对 Kwon 的严厉指控让人与创业界另一位陨落的明星进行比较：伊丽莎白·霍姆斯 (Elizabeth Holmes)。和权一样，福尔摩斯也因推销有缺陷的血液检测机而面临欺骗指控。

Currently, Kwon remains out on bail, his fate hanging in the balance as he awaits extradition proceedings. If tried in the US, he could face a staggering 100-year sentence, while South Korean prosecutors seek a 40-year sentence, which would still shatter his life.

目前，权仍处于保释状态，在等待引渡程序时他的命运悬而未决。如果在美国受审，他可能面临令人震惊的 100 年徒刑，而韩国检察官则寻求 40 年徒刑，但这仍然会破坏他的生活。

Do Kwon's rise and fall serve as a cautionary tale about the dangers lurking within the unregulated crypto market. His ability to create an illusion of innovation and trust, only to preside over its catastrophic collapse, has left an indelible mark on the industry. As the legal battles continue and the true extent of Kwon's culpability unravels, it is evident that his legacy as the "King of Lunatics" will forever be inextricably intertwined with the shattered dreams and lost fortunes of Terra investors.

Do Kwon 的崛起和衰落对于不受监管的加密货币市场中潜藏的危险是一个警示。他创造创新和信任假象的能力，却导致了灾难性的崩溃，这在整个行业留下了不可磨灭的印记。随着法律斗争的继续以及权罪名的真实程度的揭开，很明显，他作为“疯子之王”的遗产将永远与 Terra 投资者破碎的梦想和失去的财富密不可分地交织在一起。