Terraform Labs co-founder Do Kwon denies US SEC's evidence evidence evidence in FTX trial

Terraform Labs co-founder Do Kwon denies US SEC's evidence evidence evidence in FTX trial

In a court filing, Terraform Labs co-founder Do Kwon dismissed the messages submitted by the US SEC as evidence. The U.S. Department of Justice has also revealed its plans to question witnesses in the FTX trial, a mysterious exploiter of FTX has suddenly begun moving crypto assets after 10 months, and the third quarter saw about $900 million in crypto losses to hacks and scams. Terraform Labs co-founder Do Kwon disputed the significance as evidence of his Slack messages from 2019 discussing manipulating transactions to attract investors, Bitcoin Insider reported. Kwon and his legal team say the messages have been taken out of context.

The SEC included the messages between Kwon and his co-founder, Daniel Shin, in a court filing. Kwon is currently held in Montenegro, from which US authorities are seeking to extradite him and in a parallel effort, to depose him.

The US Department of Justice plans to summon former FTX clients, investors and Cooperating former staff members as witnesses in the forthcoming trial of the bankrupt company's ex-chief executive, Sam Bankman-Fried, Cointelegraph reported.

In about 10 months after FTX was potentially exploited for hundreds of millions of dollars, an unidentified hacker has moved over $17 million worth of ETH, according to Cointelegraph, citing data from blockchain analyst Spot on Chain.

CryptoPotato notes that the original exploit happened last November, shortly after FTX filed for bankruptcy, according to CryptoPotato, which also reported the sudden transfer of ETH, citing data from Arkham Intelligence.

Crypto projects lost almost $900 million to hacks, phishing scams, and rug-pulls during the third quarter, CryptoSlate reported, citing blockchain security company Beosin.

In a report published by Beosin with other blockchain alliance members, 43 hacks accounted for losses of $540 million, $283 million was lost to rug-pulls across 81 incidents, and phishing schemes accounted for $66 million.

Crypto trading platform Coinbase has informed users in India by email that it has extended the withdrawal period for withdrawals from their accounts to October 31 from September 25, Crypto News reported.

Since entering the Indian market in April 2022, Coinbase has faced regulatory challenges that led it to discontinue crypto trading services there, though the company still maintains that it is committed to the India market in the long term.

What are the things we read on the internet?

influential US Crypto industry leaders say the SEC overstepped with Binance allegations.

Binance users brace for the 'cascading effect' of potential US criminal charges - DL News.