The U.S. SEC: Do Kwon and Terraform transferred over 10,000 bitcoins and partially exchanged them for cash through a Swiss bank

ChainCatcher news, according to a report by Bloomberg, since May of last year, Do Kwon and Terraform Labs Pte have been regularly transferring Bitcoin from their wallets, totaling over 10,000 Bitcoins, and converting some of the tokens into cash through a Swiss bank.

Previously reported, the U.S. SEC accused Singapore-based Terraform Labs and Do Kwon of orchestrating a multi-billion dollar securities fraud involving algorithmic stablecoins and other crypto asset securities, violating registration and anti-fraud provisions of the Securities Act and the Exchange Act. (Source link)