The Securities and Exchange Commission (SEC) has been tightening its grip on Terra Luna Classic (LUNC) investment scheme, while the fugitive Do Kwon is still on the run from law enforcement. The LUNC scam has been one of the biggest crypto-related frauds in recent times, and the SEC is determined to bring those responsible to justice. In this article, we will take a closer look at the SEC’s efforts to crack down on the Terra Foundation, their attempts to track down Do Kwon, and why investors are turning to AI-based crypto projects in 2023 in search of a safer alternative.
What is the SEC Doing to Crack Down on Terra Luna Classic?
Terra Luna was a crypto-based investment scheme that promised blockchain enthusiasts massive returns on their investments. It was founded by Do Kwon, a fugitive who is currently still on the run from the SEC. The Securities and Exchange Commission has been actively tracking Do Kwon for several months in partnership with international law enforcement agencies. It has been cracking down on the fork of Terra Luna, now called Terra Luna Classic. The SEC cites concerns over the new token and claims that investors are “at further risk of financial harm.”
The SEC has also frozen the assets of Do Kwon and his associates following cease-and-desist orders to the companies and individuals associated with the scheme. Officials have also filed criminal charges against Do Kwon and his associates, and they are currently tracking the would-be cryptocurrency developers in order to extradite them to the United States.
In addition to this, the SEC says it has also been actively monitoring and investigating the activities of other crypto-related scams in the market. This statement comes only days after issuing a formal letter of intent to BUSD issuer Paxos.
In 2023, investors will turn to AI-powered cryptocurrency projects
As the SEC continues to crack down on Terra Luna Classic and other crypto-related scams, investors have been turning to AI-based crypto projects in 2023 in search of a safer alternative. The concept of AI-based crypto projects has become increasingly popular in recent months and has been gaining traction in the crypto community.
Following the massive attention around AI products such as ChatGPT, Jasper, Copy.ai, and other language models. Avorak AI looks to capitalize on the recent trend by offering a wide selection of improved and user-friendly products and being the first platform that brings these products onto the blockchain.
Avorak’s AI-based crypto project uses advanced algorithms to analyze data and make decisions, which makes Avorak much more secure than other types of crypto projects. In addition, Avorak AI uses various layers of encryption, making the AVRK token difficult for hackers to penetrate.
Since AI-based crypto projects can perform tasks much more quickly and efficiently than other types of crypto projects, they have grown in popularity. This makes them ideal for large user bases, as they can process massive amounts of data quickly and accurately.
Could Avorak AI Be a Safer Alternative To Terra Luna Classic?
One of the most popular AI-based crypto projects in 2023 is Avorak AI. It is a decentralized investment platform that uses advanced algorithms and proprietary technology. Not only is Avorak AI a fantastic trading bot-algorithmic hybrid, but the platform also offers a wide selection of other AI tools that users can implement to improve their productivity, such as writing assistants and image creators.
In addition, the platform also offers investors access to a range of tools and services that make it easier for them to manage their investments. These tools include portfolio tracking, risk assessment, and portfolio rebalancing, among others.
Interestingly, investors can also access various research and analysis tools, making informed investment decisions easier.
Conclusion
The SEC has been actively cracking down on Terra Luna Classic, the Terra Foundation, and other crypto-related scams recently, and they are determined to bring those responsible to justice. In addition, investors have been turning to AI-based crypto projects in 2023 for a safer alternative. Avorak AI is one of the most popular AI-based crypto projects in 2023, and it offers investors access to a range of tools and services that make it easier for them to manage their investments. Ultimately, investors should be aware of the risks associated with investing in crypto projects and should always research and investigate any crypto project before investing.
Want to learn more about Avorak AI?
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
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