• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Do Kwon of Terraform Labs: 2026 Trial on Fraud Charges

user avatar

by Giorgi Kostiuk

a year ago


Do Kwon, co-founder of Terraform Labs, is set to face trial in the US in January 2026 on charges of fraud related to the TerraUSD stablecoin collapse.

Arrest and Charges

Kwon was arrested in March 2023 in Montenegro and extradited to the US, where he faces serious charges related to the collapse of the TerraUSD stablecoin and its associated crypto, LUNA, which shocked the crypto world.

Legal Proceedings and Decisions

US District Judge in New York scheduled the trial for January 2026, expected to last four to eight weeks. Terraform Labs settled with the SEC for $4.47 billion in June 2023 over the collapse. Kwon was previously convicted of civil fraud, but criminal fraud charges require a higher standard of proof.

Current Situation and Upcoming Hearings

Do Kwon has been in custody without bail for more than two years and will have to wait until 2026 for the trial. The next court status hearing is set for March 6, 2025. Prosecutors noted that case discovery is complicated by encrypted data and the need to translate materials from Korean.

The trial of Do Kwon continues to draw attention due to the significant financial losses from the TerraUSD collapse. The upcoming lengthy trial could have major implications for the cryptocurrency market.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

New York Takes Legal Action Against Coinbase and Gemini for Gambling Law Violations

chest

New York has filed lawsuits against Coinbase and Gemini for allegedly violating state gambling laws by offering prediction markets.

user avatarMaria Gutierrez

New York AG Letitia James Sues Coinbase and Gemini Over Illegal Gambling

chest

New York Attorney General Letitia James has filed a lawsuit against Coinbase and Gemini for allegedly operating illegal prediction markets without the necessary licenses.

user avatarDavid Robinson

Amazon Expands Partnership with Anthropic with $25 Billion Investment

chest

Amazon has announced a significant investment in AI startup Anthropic, enhancing their partnership with a total potential stake of $33 billion.

user avatarAndrew Smith

XRP's Role in DeFi Sparks Controversy

chest

A heated debate has emerged regarding XRP's position in the decentralized finance sector, highlighting the importance of reliability in protocol design.

user avatarJacob Williams

XRP's DeFi Ecosystem Surges Towards 160 Million Tokens

chest

The FXRP supply is rapidly approaching 160 million tokens, showcasing the growing adoption of XRP within the decentralized finance landscape.

user avatarZainab Kamara

Arbitrum Security Council Takes Emergency Action to Freeze Funds Linked to KelpDAO Exploit

chest

The Arbitrum Security Council has taken emergency action to freeze 30,766 ETH linked to the KelpDAO exploit, following law enforcement input.

user avatarSon Min-ho

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.