• 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

Tokenized Commodities Market Surges Past $6 Billion

chest

The market for tokenized commodities has surpassed $6 billion, primarily driven by gold-backed tokens like Tether Gold and Pax Gold.

user avatarRajesh Kumar

Speculation on US Bitcoin Reserve Revived by Market Commentator

chest

Jim Cramer's remark about a potential US Bitcoin Reserve at $60,000 has reignited discussions in the crypto community.

user avatarLucas Weissmann

CryptoQuant Founder Analyzes Bitcoin Market Dynamics

chest

Ki Young Ju, the founder of CryptoQuant, analyzes Bitcoin's market dynamics, stating it is not pumpable due to the divergence between Market Cap and Realized Cap.

user avatarFilippo Romano

EU Moves to Sanction Russian Crypto Transactions

chest

The European Commission is taking steps to prohibit all crypto transactions with Russia to prevent sanctions evasion.

user avatarEmily Carter

Binance Records Largest Ethereum Withdrawals Since August 2022

chest

On February 5, 2023, Binance experienced significant Ethereum withdrawals, with daily net outflows reaching approximately 158,000 ETH, marking the largest withdrawal event since August 2022.

user avatarKaterina Papadopoulou

Critical Support Zone for Bitcoin Emerges Amid Market Decline

chest

Critical support zone for Bitcoin emerges amid market decline, indicating potential bearish phase.

user avatarTomas Novak

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.