It has recently been reported that Terra, a major cryptocurrency project, has raised over 300 million dollar with their Initial Coin Offering (ICO). However, the news came with some disturbing insight. It is alleged that one of Terra's co-founders and CEO, Do Kwon, has committed a white-collar crime with the project and is responsible for the estimated 91.4 billion won worth of proceeds of crime. Moreover, the prosecution has seized wads of assets of other co-founder and affiliate, Daniel Shin, including cars and real estates.

Kwon is said to have converted a significant portion of his wealth and transferred it to overseas cryptocurrency exchanges. As a result, the prosecutor's office has asked Binance, the world's largest exchange, to block any withdrawal activities for Kwon's holdings. Furthermore, in the investigation conducted by the investigators, multiple investors and employees were indicted and their real estates, vehicles, and securities were subjected to a freeze.

Overall, despite the controversies and the proceeding investigation, Terra has still managed to raise an incredible amount of capital. For example, an earlier report claims that the assets seized by the prosecution are worth as much as $200 million.

In conclusion, Terra's remarkable success in the ICO market should be duly noted. Yet, investors need to remember that an extremely careful approach to the project should be taken. It is paramount to take things slowly and perform extensive due diligence in order to identify potential risks and avoid any complications with the law.



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