Terraform Labs 和 Do Kwon 以 45 亿美元和解 SEC 欺诈指控

拉科夫于 6 月 13 日批准的和解协议将对被告实施“重大补救、惩罚性和威慑性补救措施，包括价值数十亿美元的判决”。

Terraform Labs and its founder Do Kwon have agreed to pay nearly $4.5 billion to settle a Securities and Exchange Commission lawsuit accusing them of defrauding investors with their cryptocurrency offerings.

Terraform Labs 及其创始人 Do Kwon 同意支付近 45 亿美元来和解美国证券交易委员会的一项诉讼，该诉讼指控他们通过加密货币产品欺骗投资者。

The regulator said Monday that the settlement, which still needs to be approved by a judge, will see Terraform pay $4,473,828,306 ($3,586,875,883 in disgorgement, $466,952,423 in prejudgment interest, plus a $420 million civil penalty).

监管机构周一表示，该和解协议仍需法官批准，Terraform 将支付 4,473,828,306 美元（3,586,875,883 美元的非法所得，466,952,423 美元的判决前利息，外加 4.2 亿美元的民事罚款）。

Kwon, who didn’t attend the trial earlier this year, agreed to pay $204,320,196 ($110 million in disgorgement, $14,320,196 in prejudgment interest, and an $80 million civil penalty). Kwon agreed to transfer “at least” $204 million to Terraform’s bankruptcy handlers for distribution to the rank-and-file holders of LUNA/UST left high and dry by the company’s collapse.

Kwon 没有参加今年早些时候的审判，他同意支付 204,320,196 美元（1.1 亿美元的没收赃款、14,320,196 美元的判决前利息以及 8000 万美元的民事罚款）。 Kwon 同意将“至少”2.04 亿美元转移给 Terraform 的破产处理人，以分配给因公司倒闭而陷入困境的 LUNA/UST 普通持有者。

The proposed settlement also prohibits Terraform/Kwon from ever involving themselves in anything remotely resembling securities transactions. The SEC claims the deal will “put Terraform out of business for good” while providing “meaningful and speedy recovery for investor victims.”

拟议的和解协议还禁止 Terraform/Kwon 参与任何与证券交易类似的活动。美国证券交易委员会声称，该交易将“让 Terraform 永久破产”，同时“为投资者受害者提供有意义且迅速的恢复”。

Finally, the SEC claims the judgement sends the “unmistakable deterrent message to not only those who engage in brazen misconduct, but also to all those who seek to evade the requirements of the federal securities laws.” A noble sentiment, but this is crypto, a clown car in which there will always be room for one more.

最后，美国证券交易委员会声称，这一判决“不仅向那些明目张胆的不当行为者发出了明确的威慑信息，而且还向所有试图逃避联邦证券法要求的人发出了明确的威慑信息。”这是一种高尚的情感，但这是加密货币，一辆小丑车，里面永远有空间容纳另一个人。

The SEC filed its fraud complaint against Terraform/Kwon in February 2023, nearly a year after Terra’s ‘crypto’ ecosystem collapsed in a heap of its own making, signaling the start of the ‘crypto contagion’ that felled numerous other entities.

美国证券交易委员会 (SEC) 于 2023 年 2 月对 Terraform/Kwon 提出欺诈指控，距 Terra 的“加密货币”生态系统因自身原因崩溃近一年，标志着“加密货币蔓延”的开始，导致许多其他实体陷入瘫痪。

In April, a jury in Manhattan found Terraform and Kwon liable on civil fraud charges, including lying about the stability of its LUNA token and UST algorithmic’stablecoin, each of which was (theoretically) supposed to ensure the other’s stability. This theory ultimately proved to be so much handwavy BS, resulting in what the SEC called “one of the largest securities frauds in U.S. history.” At least $40 billion in ‘market value’ was wiped out in the process.

今年 4 月，曼哈顿的一个陪审团裁定 Terraform 和 Kwon 承担民事欺诈指控，包括对其 LUNA 代币和 UST 算法稳定币的稳定性撒谎，两者（理论上）都应该确保对方的稳定性。这一理论最终被证明是胡言乱语，导致美国证券交易委员会称之为“美国历史上最大的证券欺诈案之一”。在此过程中至少损失了 400 亿美元的“市场价值”。

Attorneys representing Terraform/Kwon had tried to claim that the securities laws didn’t apply to their tokens, and thus, the SEC had no right to target the company. But late last year, Judge Rakoff issued a ruling that granted the SEC summary judgment on its claim that Terraform/Kwon had indeed sold unregistered securities to the public, leading to this spring’s trial and this month’s settlement.

Terraform/Kwon 的代表律师曾试图声称证券法不适用于他们的代币，因此 SEC 无权针对该公司。但去年年底，Rakoff 法官做出了一项裁决，批准了 SEC 就 Terraform/Kwon 确实向公众出售未注册证券的主张作出简易判决，导致今年春季的审判和本月的和解。

The settlement comes as Terraform is bankrupt and in the midst of liquidating its remaining assets. It’s anyone’s guess how much Terra/Luna’s former customers will actually see of the settlement’s nearly $4.5 billion but, given Terraform’s bankruptcy filing, the final figure is likely to be a small fraction of that sum.

此次和解是在 Terraform 破产并正在清算其剩余资产之际达成的。所有人都在猜测 Terra/Luna 的前客户实际上会从和解协议的近 45 亿美元中得到多少，但鉴于 Terraform 已申请破产，最终数字可能只是这笔金额的一小部分。

The settlement makes plain that the agreed-upon billions “will be treated as an allowed general secured claim of the SEC against Terraform” and that the regulator will collect only “after harmed investors and other general unsecured creditors recover in full.”

该和解协议明确表示，商定的数十亿美元“将被视为 SEC 针对 Terraform 允许的一般有担保债权”，并且监管机构只有“在受到损害的投资者和其他一般无担保债权人完全恢复后”才会收取款项。

In April, a Delaware bankruptcy court filing indicated that Terraform retained just over $430 million in total property, both real-world and digital. The SEC’s original complaint claimed that the defendants “transferred over 10,000 [BTC tokens] from Terraform and Luna Foundation Guard crypto asset platform accounts to an un-hosted wallet, or ‘cold’ wallet.”

4 月份，特拉华州破产法院提交的文件显示，Terraform 保留了超过 4.3 亿美元的总财产，包括现实世界和数字世界。美国证券交易委员会最初的起诉书称，被告“将超过 10,000 个 [BTC 代币]从 Terraform 和 Luna Foundation Guard 加密资产平台账户转移到非托管钱包或‘冷’钱包。”

The complaint added that the defendants “continue to transfer” some of the BTC “from this wallet to a financial institution based in Switzerland” and convert it into cash. Over $100 million in fiat had been withdrawn from that Swiss bank at the time of that February 2023 complaint.

起诉书还称，被告“继续将部分比特币从该钱包转移至位于瑞士的金融机构”，并将其转换为现金。截至 2023 年 2 月投诉时，该瑞士银行已提取超过 1 亿美元的法定货币。

Meanwhile, Kwon is currently in Montenegro, where he and a fellow suspect were detained in March 2023 for attempting to travel with forged Costa Rican passports. Ever since, American authorities have been trying to extradite Kwon to the U.S. to face criminal charges related to his Reign of Terra(r).

与此同时，Kwon 目前在黑山，他和另一名嫌疑人因试图使用伪造的哥斯达黎加护照旅行而于 2023 年 3 月被拘留。从那时起，美国当局一直试图将 Kwon 引渡到美国，以面临与他的 Terra(r) 统治相关的刑事指控。

The U.S. extradition efforts have been complicated by similar efforts by South Korea, the land of Kwon’s birth, which wants to prosecute Kwon for the pain he inflicted on local ‘investors’ swindled by the Terraform scam.

由于权的出生地韩国也采取了类似的行动，美国的引渡工作变得更加复杂。韩国希望起诉权，因为他给当地“投资者”带来了痛苦，而当地“投资者”因 Terraform 骗局而蒙受损失。

Following four months in a Montenegro prison, local authorities released Kwon in April. But he’s prohibited from leaving the country until the extradition slap-fight is finished and either the U.S. or South Korea whisks him away

在黑山监狱关押四个月后，地方当局于四月释放了权。但在引渡斗争结束并且美国或韩国将他带走之前，他被禁止离开该国