Chats between Do Kwon and Daniel Shin uncover early fraud intentions at Terraform Labs

Shin and his team have refuted the allegations, pointing to Kwon’s leadership and external factors as the reasons behind the downfall of Terra and Luna. This argument was a key aspect of the US Securities and Exchange Commission’s (SEC) case against Kwon in the Southern District of New York. The SEC won the case in April, with the US jury recognizing Kwon’s fraudulent behavior.