SEC v. Terraform Labs: Meet the Defendants

DEFENDANTS

15. Terraform Labs PTE Ltd. ("Terraform") is a private company registered and headquartered in Singapore. During the Relevant Period, Terraform had numerous employees located in the United States, including its General Counsel, Head of Research, and Director of Special Projects.

Terraform also operated a website available in the United States that offered and sold crypto asset securities to U.S.-based investors and, through its authorized representatives, often met with investors in the United States to offer and sell Terraform's crypto asset securities.

Neither Terraform nor its offers or sales of crypto asset securities were registered with the SEC in any capacity.

16. Do Hyeong Kwon, age 31, was a resident of Korea and Singapore during the Relevant Period. Kwon is and was the ultimate decision-maker at Terraform throughout the Relevant Period. Kwon is also the sole director, Chief Executive Officer, and majority shareholder of Terraform, owning 92% if its shares. Press reports indicate that a Korean court issued an arrest warrant for Kwon.

His current address is unknown. During the Relevant Period, Kwon traveled to the United States on behalf of Terraform to market, offer, and sell Terraform's crypto asset securities.