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How are crypto assets Terra Classic (LUNC) and Binance Coin (BNB) performing compared to the general market trend? An overview of their prices and the latest news.
Days after the arrest of Do Kwon, the founder of Terra Labs, on fraud charges, Montenegro announced its intention to develop a central bank digital currency (CBDC) in partnership with Ripple, a blockchain company.
According to a recent Forkast news report, the Seoul Southern District Prosecutors' Office has frozen 7.1 billion Korean won ($5.36 million) in assets belonging to Terraform Labs CEO Kwon “Do Kwon” Do-hyung.
South Korean authorities await a court order to freeze $5.3 million of Terraform co-founder Do Kwon's assets.
Terra Luna Classic project Cremation Coin burns 18.69 million LUNC tokens in a single transaction as part of its weekly burn campaign. With the latest burn, the total LUNC burned by the project has reached over 333 million LUNC tokens.
Prosecutors in South Korea are trying to get a court order to freeze $5.3 million worth of Do Kwon's assets in the country, Yonhap News reported on April 11.
The Terra Classic [LUNC] community suffered yet another another blow to their recovery plans from last year's black swan. Recent reports reveal that the network, as of 10 April, was nursing a very recent attack on its Terraport liquidity wallet.
Terraport Finance, the recently launched decentralized finance (DeFi) project on the Terra Classic network has been hacked, with 15 billion LUNC drained from the protocol.
Today's crypto market showcases a variety of trends, with Arbitrum, Shiba, Lunc, OG, and Kaspa all gaining attention. Each project brings unique features and potential to the table, but not all are receiving positive news.
Terra Luna Classic's most-promising DeFi exchange project Terraport Finance on Monday reported that its Terraport Liquidity wallet was hacked. Terra Classic influencers and the community have expressed dissatisfaction with the start Terraport has shown.
A recent report has revealed that Terra (CRYPTO: LUNA) cofounder Do Kwon, who was arrested in March for his alleged role in the collapse of the $40 billion Terra ecosystem in May 2022, appears to have converted most of his properties into Bitcoin (CRYPTO: BTC). The disgraced founder allegedly sent his crypto stack to an exchange outside of South Korea, according to Korean media outlet KBS.
In the daily time frame chart, the higher price rejection candles observed at the resistance trendline indicate the traders continue to witness high selling pressure from it. Moreover, these rejection signs project a higher possibility for the LUNC price to prolong the prior downtrend.
South Korean authorities have reportedly found that embattled Terraform Labs CEO and co-founder Do Kwon has zero assets in his home country. Local media outlet KBS reports that prosecutors have been tracking the domestic wealth of Terraform Labs executives to collect the profits that they've allegedly accumulated from the Terra (LUNA) ecosystem.
The downfall of Terra in May last year stunned the cryptocurrency community. Terra, once a promising ecology, saw its value drop from $40 billion to nearly nothing.
Prosecutors in South Korea are continuing their crackdown on crypto fugitive Do Kwon.
No assets belonging to Kwon have been located in South Korea. Do Kwon, the founder of Terraform Labs, has been charged with fraud in both the United States and South Korea.
New report disclosed that Terra's founder set up a company in Serbia despite his wanted status.
South Korean prosecutors say Do Kwon's $69 million in assets are not in the country as governments tussle for the Terraform founders' extradition.
South Korean prosecutors say Do Kwon's $69 million in assets are not in the country as governments tussle for the Terraform founders' extradition.
South Korean authorities have taken action to stop Do Kwon, the founder of the now-collapsed cryptocurrency issuer Terraform Labs, from withdrawing his crypto holdings. Prosecutors have requested that Binance, the world's largest exchange, block any withdrawal of crypto assets owned by the disgraced crypto figure.
Korean officials have linked approximately 91.4 billion won, worth about $69 million, in digital assets directly to Do Kwon.
Do Kwon reportedly converted his assets to Bitcoin, currently held on Binance.
According to a report by South Korean news publication KBS, Do Kwon, the co-founder of Terraform Labs, has converted a “large part” of his assets into bitcoin. Prosecutors in South Korea believe that Kwon's purported bitcoin stash was transferred to an international exchange.
South Korean prosecutors said Terraform Labs executives, including Do Kwon and Daniel Shin, made 414.5 billion won ($314.2 million) by tricking investors into investing in the failed project. According to an April 7 KBS News report, the co-founder and former CEO of Chai Shin Hyun-Seong (also known as Daniel Shin) made 154.
