SEC: Do Kwon and Terraform Transferred More Than 10,000 Bitcoins and Cashed Out $100 Million Through Swiss Bank

02/17 11:50

The SEC says Do Kwon and its companies transferred more than 10,000 bitcoins from the project and exchanged some of those Tokens for cash through a Swiss bank. According to the indictment, Do Kwon and Terraform Labs stored more than 10,000 bitcoins in a cold wallet. Since May of last year, they regularly transferred bitcoins from the wallet, sent the assets to a Swiss bank, and converted Token to cash.
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