Terra's Do Kwon Admits to Faking Trading Volume in Leaked Chat: Court Docs

Terra's Do Kwon Admits to Faking Trading Volume in Leaked Chat: Court Docs

From decrypt.co

Disgraced crypto mogul Do Kwon admitted to faking trading volume, court documents from the U.S. Securities and Exchange Commission show. A September 22 SEC filing shows a text message exchange between Do Kwon and Daniel Chin, the founder of payments app Chai, where Do Kwon tells him: "I can just create fake transactions that look real...which will generate fees." Chin asks Do Kwon what if "people find out it's fake," to which Do Kwon responds: "I won't tell if you won't." Chai partnered with Do Kwon's Terra to speed up payments. But last year, Terra collapsed and now the SEC is accusing Do Kwon of fraud. In fact, in ... (full story)

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