Do Kwon of Terraform Labs: 2026 Trial on Fraud Charges

user avatar

by Giorgi Kostiuk

2 years 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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Grayscale Appoints BitGo as Custodian for Hyperliquid Staking ETF

Grayscale has appointed BitGo Bank Trust as an additional custodian for its Hyperliquid Staking ETF to enhance custody services and operational flexibility.

user avatarAndrew Smith

Avalanche Sees Surge in Tokenized US Treasury Assets

The value of tokenized US Treasury assets on the Avalanche network has surged to approximately $545 million, marking a fourfold increase over the past year.

user avatarJacob Williams

Metaplanet Shows Liquidity Management with Strategic Bitcoin Transactions

Metaplanet sold 10,000 BTC for approximately $790 million and bought back 11,000 BTC for around $950 million, demonstrating its ability to manage liquidity effectively.

user avatarSon Min-ho

Navra Secures $19 Million in Series A Funding to Bridge Traditional Finance and Blockchain

Navra, a startup led by Mike Cagney, has successfully raised $19 million in Series A funding to enhance access to blockchain-based financial markets for traditional investors.

user avatarZainab Kamara

Arbitrum Proposes Strategic Initiative for USDG Stablecoin

Arbitrum has proposed a governance initiative to back USDG as a core strategic stablecoin within its ecosystem, including adding 100 million ARB to enhance liquidity and adoption.

user avatarTando Nkube

BitGo and HashKey Cloud Expand Partnership in Asia-Pacific

BitGo and HashKey Cloud have expanded their partnership to cover multiple areas of institutional crypto infrastructure, including staking, trading, custody, and asset tokenization in Singapore.

user avatarAyman Ben Youssef

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.