South Korean Court Freezes $92M in Terra-Related Funds

As per the Seoul Southern District Court, one of those taking the biggest advantage of Terra and speculating on sales was Kernel Labs CEO Kim Hyun-Joong. According to the reports from the authorities,ย Kim has illegally gained at least 79 billion won ($61 million). Since Terraโ€™s UST and LUNA coins collapsed, South Korean authorities have been investigating the case and scrutinizing the businesses whose activity was related to Terra. The latest action taken has been freezing as much as $92 million (120 billion won) in funds of former and incumbent CEOs…

South Korean court freezes $92M in assets related to Terra tokens

More than six months after the collapse of the Terra ecosystem, South Korean authorities continue to investigate and freeze the funds of persons involved in Terra. After seizing 140 billion won ($108 million) from Terra co-founder Shin Hyun-Seong in November, the Seoul Southern District Court has recently ruled to confiscate more assets related to Terra. The South Korean court has ordered to freeze of 120 billion won ($92 million) in assets of former and incumbent CEOs of Terraform Labsโ€™ affiliate firm Kernel Labs, The Korea Economic Daily reported on Dec.…

Wintermute repays $92M TrueFi loan on time despite suffering $160M hack

When Wintermute, a cryptocurrency market maker, lost $160 million due to a hack, concerns related to the repayment of debt worth $189.4 million surfaced. However, in an exciting turn of events, Wintermute paid back its largest debt due Oct. 15, involving a $92 million Tether (USDT) loan issued by TrueFi. After repayment of TrueFiโ€™s $92 million loan, Wintermute still owes $75 million to Maple Finance in USD Coin (USDC) and wrapped ether (WETH) and $22.4 million to Clearpool, a total of $97.4 million in debt. Loan details show that Wintermute…

FTX buys Super Bowl ad slot to promote crypto to a TV audience of 92M

Cryptocurrency exchange FTX, has secured an advertisement spot in one of the most watched events in America โ€” the championship game of the National Football League, to be held in Feb. 2022 According to a report in Bloomberg, FTX purchased an ad in this yearโ€™s Super Bowl LVI motivated by the wide reach of the audience. The Super Bowl is invariably the top rating TV program of the year, and accounts for 28 of the 30 highest rating broadcasts in U.S. TV history. Sam Bankman-Fried, founder and CEO of FTX…