业务作假、套现1亿美金，美SEC文件曝光Terra背后更多欺诈细节

比推Published on 2023-02-21Last updated on 2023-02-21

Abstract

SEC 长达 55 页的文件，详细说明了针对 Do Kwon 和他的公司 Terraform Labs 的各种欺诈指控

稳定币 TerraUSD 的崩溃抹去了超过 400 亿美元的市值，从此引发了加密行业的一连串破产冲击波。本周四晚间，美国证券交易委员会（SEC）发布了一份长达 55 页的文件，详细说明了针对 Do Kwon 和他的公司 Terraform Labs 的各种欺诈指控。

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文件中，SEC 称 Kwon 和其他利益相关方“参与了一项欺骗和误导投资者的计划……在美国和国外”，这些指控与 31 岁的 Kwon 及其合作伙伴向投资者和全球媒体塑造的人设截然不同。

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以下是 SEC 文件中的一些投诉要点：

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1、不稳定的“稳定币”

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Terraform 和 Kwon 在 TerraUSD（ UST）的稳定性方面误导了投资者。该代币被定位为一种算法稳定币，声称使用复杂的数学算法来确保与美元 1: 1 锚定。

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该代币于 2021 年 5 月脱钩，引发了用户的恐慌。美 SEC 写道，如果不迅速恢复锚定，它“将给整个 Terraform 生态系统带来厄运”。

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此时，Kwon“秘密地”向第三方寻求帮助，该第三方在文件中未被指明，但据 The Block 报道为 Jump Trading。Jump 购买了“大量”的 UST 以帮助其恢复锚定，但这一努力被公开宣传为 UST 去中心化、自发的、自我修正能力的胜利，导致投资者继续向该产品投入了数十亿美元。

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美国证券交易委员会的备案文件显示，Jump 最终从与 Terraform 的合作协议中获利约 13 亿美元。

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2. Do Kwon 和他的同伙正在大规模套现

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在 Terra 系统崩溃后，已经有各种链上工具尝试追踪从 Terraform Labs 和附属实体流出的资金，尤其是比特币。最近，一家韩国新闻网站声称发现 Do Kwon 在塞尔维亚兑现了价值约 100, 000 美元的比特币。

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业务作假、套现1亿美金，美SEC文件曝光Terra背后更多欺诈细节

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但 SEC 的文件中披露了更为具体和广泛的指控。他们声称 Kwon 和同伙“将超过 10, 000 个比特币从 Terraform 和 Luna Foundation Guard 账户转移到一个非托管钱包中。”

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SEC 声称，自 2022 年 6 月以来，他们已经将超过 1 亿美元的比特币转移到一家未具名的瑞士银行并兑换成法定货币。

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将 Kwon 绳之以法可能是一个棘手的过程，因为他的确切位置仍然未知，彭博社上周报道称，有人在塞尔维亚发现了他，韩国检察官最近访问了该国，与当地官员讨论他的案件。Kwon 的韩国护照已被吊销，他的名字被列入国际刑警通缉名单。

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3、比想象中更虚假的业务关系

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为了让人们对 Terraform 区块链感到信任，Kwon 和他的团队声称一家名为 Chai 的韩国支付公司正在使用它来结算数百万笔交易。SEC 称，这完全是捏造的。

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Chai Corporation 由 Daniel Shin Hyun-seung 创立，他也是 Terraform 的创始人。Kwon 是 Chai 的董事会成员，两家公司共享办公空间和人员。据 Forkast News 11 月报道，韩国当局正在对 Chai 和 Shin 进行调查，并援引 Chai 发言人的话说，“Daniel 将全力配合正在进行的调查，以澄清误解并解决此类猜测。”

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SEC 表示，Terraform 和 Kwon 在公开采访中就 Chai 的参与作为招商引资工作的一部分做出了“虚假和误导性陈述”。这包括向一位美国机构投资者通过 PPT 展示 Chai 在使用 Terraform 区块链方面的速度和效率。

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SEC 在指控文件中写道，为了欺骗追踪 Terraform 区块链的人以获取 Chai 交易的证据，Kwon 团队对服务器进行了编程以接收和处理有关 Chai 与韩国商家的真实交易数据，然后向 Terraform 区块链发出指令复制这些交易，实际上，根据指控，“区块链上没有发生 Chai 交易。”

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换句话说，Do Kwon 不仅在自己的声明中夸大了 Chai-Terra 的关系，还创建了一个完整的假服务器来转移假资金来模拟假交易，其明确目的是欺骗投资者。

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4、未注册证券

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SEC 称，UST 和其他与 Terraform 相关的代币是未注册证券。其中包括在区块链之间转移时创建的所谓封装版代币，以及旨在复制上市股票价格变动的镜像代币。

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SEC 表示，Terraform 未注册这些不同的产品违反了美国证券规则。

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具体来说，该机构表示五种资产是“加密资产证券”：LUNA 代币、Wrapped LUNA、UST、MIR 代币，以及基于证券的掉期或在 Terra 的 Mirror 协议下开发的 mAssets。SEC 审查了投诉中的资产，将其与 Howey 测试的不同组成部分相关联，Howey 测试源自 1946 年美国证监会 SEC 诉 Howey 公司案，该机构已多次使用该测试来确定加密货币是否是证券。

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这一指控可能成为审判中最受关注的部分，因为加密行业对 SEC 关于代币是证券的任何说法高度敏感。

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