Terraform and Kwon also engaged in fraudulent conduct and made misleading statements, the SEC reiterated in the filing, re-emphasizing that they committed fraud by deceiving investors about the stability of UST, falsely crediting their algorithm for its price stabilization while secretly arranging third-party intervention, making their claims about the algorithm’s efficiency misleading and materially omitting crucial information. Terra collapsed in May last year, destroying billions of dollars in investor wealth.
SEC Asks Court for Summary Judgement Against Do Kwon, Terraform
