SEC 里程碑式胜利：Terraform Labs 和 Do Kwon 对 Terra Collapse 欺诈行为承担责任

在一项具有里程碑意义的裁决中，陪审团裁定 Terraform Labs 及其联合创始人 Do Kwon 对 Terra 生态系统崩溃中的民事欺诈承担责任，为 SEC 向被告追缴数十亿美元的非法所得和民事处罚铺平了道路。

Landmark SEC Victory: Terraform Labs and Do Kwon Found Liable for Fraud in Terra Ecosystem Crash

具有里程碑意义的 SEC 胜利：Terraform Labs 和 Do Kwon 被发现对 Terra 生态系统崩溃中的欺诈行为负责

In a resounding legal victory, the United States Securities and Exchange Commission (SEC) has secured a jury verdict holding blockchain protocol Terraform Labs and its co-founder Do Kwon liable for civil fraud in connection with the catastrophic collapse of the Terra ecosystem in 2022.

美国证券交易委员会 (SEC) 取得了一场巨大的法律胜利，获得了陪审团的裁决，裁定区块链协议 Terraform Labs 及其联合创始人 Do Kwon 对与 2022 年 Terra 生态系统灾难性崩溃有关的民事欺诈承担责任。

The SEC's initial lawsuit, filed in February 2023, alleged that Terraform Labs and Kwon perpetrated a massive crypto scam by misleading investors about the stability and value of various digital assets, including the LUNA token and the algorithmic stablecoin Terra USD (UST).

美国证券交易委员会于 2023 年 2 月提起的最初诉讼称，Terraform Labs 和 Kwon 误导投资者了解各种数字资产的稳定性和价值，包括 LUNA 代币和算法稳定币 Terra USD (UST)，从而实施了大规模的加密骗局。

After a lengthy trial, the jury unanimously agreed that the defendants had indeed committed fraud, validating the SEC's accusations. This verdict represents a significant triumph for the agency in its ongoing efforts to combat fraud and protect investors within the digital asset realm.

经过长时间的审判，陪审团一致认为被告确实犯有欺诈行为，证实了 SEC 的指控。这一判决标志着该机构在打击欺诈和保护数字资产领域投资者方面的持续努力中取得了重大胜利。

In response to the verdict, the SEC swiftly filed a motion seeking substantial monetary penalties and injunctive relief against Terraform Labs and Kwon. The motion seeks approximately $4 billion in disgorgement, which involves the return of ill-gotten gains, as well as civil penalties totaling $545 million in prejudgment interest, $420 million for Terraform Labs, and $100 million for Kwon.

作为对判决的回应，美国证券交易委员会迅速提出一项动议，寻求对 Terraform Labs 和 Kwon 进行巨额罚款和禁令救济。该动议寻求追回约 40 亿美元的非法所得，其中包括返还非法所得，以及总计 5.45 亿美元的判决前利息民事罚款，其中 Terraform Labs 为 4.2 亿美元，Kwon 为 1 亿美元。

The SEC is also pursuing a conduct-based injunction to prevent the defendants from engaging in further securities law violations, an officer and director bar against Kwon, and a declaration that the monetary sanctions imposed on Terraform Labs cannot be discharged in bankruptcy.

美国证券交易委员会还正在寻求一项基于行为的禁令，以防止被告进一步违反证券法，对 Kwon 发出禁止令，并宣布对 Terraform Labs 实施的货币制裁不能因破产而解除。

While the defendants have submitted their own proposals for potential remedies, their requests for modest civil penalties and their objections to injunctive relief and disgorgement stand in stark contrast to the SEC's Forderungen. Terraform Labs contends that the SEC must meet a higher burden of proof to obtain a conduct-based injunction and argues that any civil penalty should be based solely on the SEC's evidence of alleged violations related to domestic token sales.

虽然被告已提交了自己的潜在补救措施建议，但他们要求适度的民事处罚以及反对禁令救济和没收非法所得，这与 SEC 的 Forderungen 形成鲜明对比。 Terraform Labs 认为，SEC 必须承担更高的举证责任才能获得基于行为的禁令，并认为任何民事处罚都应仅基于 SEC 涉嫌与国内代币销售相关的违规行为的证据。

The court's decision on the SEC's motion for penalties will likely have profound implications for Terraform Labs, Kwon, and the broader digital asset industry. The outcome of this case will set a precedent for how the SEC approaches similar cases involving fraud and misconduct within the crypto market.

法院对 SEC 处罚动议的裁决可能会对 Terraform Labs、Kwon 以及更广泛的数字资产行业产生深远影响。此案的结果将为 SEC 如何处理涉及加密市场内欺诈和不当行为的类似案件树立先例。

Meanwhile, the price of Luna Classic (LUNC), the native token of the Terra ecosystem, has fluctuated in the wake of the jury verdict. Despite a recent rebound of 2% in the past 24 hours, LUNC's price has experienced a significant decline of over 25% in the past month.

与此同时，Terra 生态系统的原生代币 Luna Classic (LUNC) 的价格在陪审团裁决后出现波动。尽管最近在过去24小时内反弹了2%，但LUNC的价格在过去一个月内却经历了超过25%的大幅下跌。

As the legal proceedings continue, the SEC's victory against Terraform Labs and Kwon serves as a cautionary tale about the importance of investor protection and regulatory compliance in the rapidly evolving crypto landscape. The case will likely shape the regulatory framework and enforcement strategies for digital assets in the years to come.

随着法律诉讼的继续，美国证券交易委员会对 Terraform Labs 和 Kwon 的胜利成为一个警示，说明在快速发展的加密货币领域，投资者保护和监管合规的重要性。该案可能会影响未来几年数字资产的监管框架和执法策略。