imprisoned

According to Decrypt, although Do Kwon, the founder of Terraform Labs, has been sentenced to 15 years in prison for causing the collapse of Terra, which resulted in approximately $40 billion in losses, the abandoned original chain Terra Luna Classic (LUNC) has not disappeared. A group of community members continues to maintain the network, hoping to achieve one of the greatest revivals in the history of the cryptocurrency industry.The report states that a core community member known by the pseudonym "Vegas" lost about $50,000 during the Terra collapse and has since been involved in operating validation nodes, governance proposals, and developer coordination. He expressed that despite facing long-term internal power struggles and fraud accusations, and even being maliciously reported to the authorities, he still believes LUNC has the potential to return to the top ten in the cryptocurrency industry.After the Terra collapse in 2022, Terraform Labs launched a new chain, Terra, through a hard fork, while the original chain was retained and renamed Terra Luna Classic. Subsequently, the community organization Terra Rebels took over the maintenance work and launched a series of proposals, including a 1.2% burn tax, in hopes of revitalizing the ecosystem. However, due to disputes over fund allocation and governance, Terra Rebels eventually disbanded, and several developers left one after another.Despite this, the community continues to advance the development of projects such as lending protocols, games, and meme coins, and attempts to restore the stablecoin peg mechanism. Data shows that LUNC has risen 17.3% in the past year, but has cumulatively fallen 28.7% since 2022, with a decline of 99.99% from its historical high of $119.Some community members stated that the shared trauma after the collapse has formed a bond similar to "family," and that price is no longer the only goal. "What if we could achieve one of the greatest comebacks in cryptocurrency history? It's like a last-ditch pass." said a community member.

According to Forbes, SBF's early investment portfolio is being re-evaluated by the market, with some opinions suggesting that if he had not been imprisoned due to the FTX collapse, his venture capital layout could theoretically yield a wealth increase of up to about $100 billion.Before the FTX collapse, SBF had established an investment landscape covering several star companies, including Anthropic, SpaceX, Robinhood, and the AI programming tool Cursor, which was considered to have significant foresight.Industry insiders pointed out that he had bet on key tracks ahead of the AI wave, among which: Cursor recently reached a partnership with SpaceX, with a valuation potentially reaching $60 billion, and Anthropic's valuation is nearing $90 billion. Rory O'Driscoll, a partner at Scale Venture Partners, stated that SBF had laid out investments in several core AI companies before ChatGPT, "demonstrating a rare investment sensitivity." However, this "investment talent narrative" was ultimately completely altered by the FTX collapse.SBF is currently serving a 25-year sentence for misappropriating over $8 billion in customer funds. At his peak, his personal wealth reached about $24 billion, and he made it onto the Forbes 400 list. Today, his venture capital capabilities are intertwined with his history of financial crime, making him one of the most controversial cases in cryptocurrency history.

ChainCatcher news, according to DigitalAsset, a representative of the South Korean cryptocurrency exchange Bitsonic has been sentenced to 6 months in prison for involvement in a fraud case amounting to 100 million won. Previously, this representative had been sentenced to 7 years in prison for another fraud case. This fraud involved inducing trades through false announcements, artificially inflating the trading volume and market value of Bitsonic Coin (BSC), thereby defrauding customers of a total of 160 million won.

ChainCatcher news, Zhu Su posted on X that the FTX exchange unauthorizedly converted a large amount of cryptocurrency deposited by Three Arrows Capital into USD in May 2022.Zhu Su emphasized that these assets were not "loaned" to FTX, and the exchange had no right to dispose of these funds. The co-founder of Three Arrows Capital also stated that Sam Bankman-Fried (SBF) should not be pardoned and called for him to be imprisoned for 250 years.

ChainCatcher news, according to Bloomberg, former FTX engineering director Nishad Singh has requested the judge not to send him to prison due to the collapse of FTX.In a memorandum submitted to the Manhattan federal judge on Wednesday night, Nishad Singh's lawyer stated that, given his limited role in the FTX bankruptcy case, his close cooperation with investigators, and his commitment to leading a "model life," he should be treated leniently.

According to ChainCatcher news, reported by The Block, a lawyer claims that Caroline Ellison, the former CEO of Alameda Research involved in the FTX collapse, should not be imprisoned for her role in the downfall of FTX. He advocates for her to serve some time in prison before being placed under house arrest. The reasoning is that Caroline Ellison has been cooperating with the government and FTX debtors, and her testimony in last year's trial of Sam Bankman-Fried was very helpful. "There is no risk of reoffending, nor does she pose a threat to public safety. Therefore, considering Caroline's early disclosure of her crimes, her unwavering acceptance of responsibility, and most importantly—her extensive cooperation with the government, leniency would help uphold the law."Earlier news today states that Caroline Ellison will be sentenced in a New York court on September 24, facing fraud charges that include two counts of conspiracy to commit wire fraud, two counts of actual wire fraud, and one count of conspiracy to commit money laundering.In March of this year, former FTX CEO Sam Bankman-Fried was convicted on seven counts of fraud and conspiracy and was sentenced to 25 years in prison.

According to Big Crypto Alert monitoring, the CZ X platform account has newly followed SolanaNews.sol (@solananew). This is the first change in the X platform account since CZ's imprisonment.

ChainCatcher news, according to Protos, former Binance CEO Zhao Changpeng has not yet been incarcerated due to the procedural aspects of the criminal justice system and the Fifth Amendment's protection of due process. According to the judge's signed ruling, Zhao Changpeng "should surrender to serve his sentence upon notification from the probation or pretrial services office." However, the notification has not yet been issued.It is reported that the aforementioned office has been conducting a statutory review of the applicability of the SeaTac Federal Detention Center and Jail to Zhao Changpeng's personal circumstances, in order to avoid any legal remedies resulting from the failure to provide the constitutionally mandated due process.

ChainCatcher news, according to Bloomberg, if a Seattle judge agrees with the prosecutor's opinion and orders Zhao Changpeng to be imprisoned, he will become the richest person ever to serve time in a U.S. federal prison, due to his ownership of Binance and the associated personal wealth of approximately $43 billion remaining unaffected. With the growth of Binance's business in the new round of the crypto bull market, Zhao Changpeng's wealth may further increase.Moreover, the situation of Binance and Zhao Changpeng is starkly different from that of FTX and SBF. After his conviction, SBF was sentenced to 25 years in prison, and his net worth is currently estimated at $0; whereas the charges against Binance by the Department of Justice do not include the misuse of customer funds.

ChainCatcher news, SBF gave his first interview to ABC News after going to prison, stating that "every day I am haunted by what I've lost." SBF added, "I never intended to hurt anyone or take anyone's money, but I am the CEO of FTX, and I am responsible for what happened to the company. When you are responsible, it doesn't matter why things went wrong. I am willing to do whatever it takes to help repair even a fraction of the damage. I am doing my best in prison, but it's frustrating that I can't do more. I have heard and seen the despair, frustration, and feelings of betrayal from thousands of customers; they should be paid in full at the current price."

ChainCatcher news, ABCDE Labs stated on social media that BMAN established the BISS exchange in 2019. Due to the innovative product "buying stocks with cryptocurrency" involving securities trading, BMAN assisted relevant authorities in the investigation at the end of 2019. After a comprehensive investigation lasting 37 days, it ultimately concluded with BISS ceasing operations and BMAN and the team being released without charges.ABCDE Labs stated that the claims in the screenshot alleging BMAN "was imprisoned for securities fraud" and "operated a Ponzi scheme" are malicious fabrications.

ChainCatcher message, 0VIX Protocol issued an ultimatum to the attacker on social media: "At 8 AM (UTC) on May 1, 2023, if no funds are returned, enforcement procedures are scheduled to begin. We will combine the clues we currently have with the tracking we have already done on you and hand it all over. Even if you take precautions, it is difficult to hide your identity online. Your security measures are no better than those of the Euler Finance and Sentiment attackers last month. We will not rest until we recover all funds for the protocol users, or your team is prosecuted/incarcerated, or both." (source link)