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Do Kwon to Plead Guilty in $40 Billion Crypto Fraud Case
Do Kwon, the co-founder of Terraform Labs, is expected to change his plea to guilty in a U.S. criminal case tied to the 2022 collapse of TerraUSD (UST) and LUNA, which wiped out roughly $40 billion in market value. A change-of-plea hearing has been set for August 12 at 10:30 a.m. in Manhattan federal court before Judge Paul A. Engelmayer.
Keyword Financial
Aug 11, 20254 min read
Makina Protocol Hack: Why Early 2026 is Seeing a Surge in DeFi Exploits
Makina, a DeFi protocol, reported a $4.2 million exploit on 20 January 2026 tied to liquidity providers in its DUSD/USDC Curve pool, adding to rising DeFi attacks in early 2026 with over $34 million in losses already recorded.
China Takes Custody of Alleged Pig Butchering Mastermind Behind Record BTC Seizure
Chinese authorities have taken custody of Chen Zhi, a businessman described by U.S. officials as a central figure in a major Bitcoin scam and money laundering operation linked to a record $15B bitcoin seizure. Chen, 38, is the chairman and founder of Cambodia-based Prince Group, a conglomerate that U.S. and U.K. authorities allege was used as cover for transnational criminal activity; Prince Group has denied the allegations.
CLARITY Act Update: DeFi Carve-Out, Digital Commodities, and the Next Phase of Crypto Market Structure
Washington is preparing a January markup for the Digital Asset Market Clarity Act (CLARITY Act) of 2025, a major U.S. crypto regulation proposal designed to reduce the long-running SEC vs CFTC jurisdiction fight and create clearer rules for digital assets trading.
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