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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Aave's Debt Concentration Raises Concerns Amid Ethereum Volatility

chest

Aave's debt profile shows that a small number of loan positions account for a significant portion of its total outstanding debt, raising concerns about risk concentration.

user avatarJesper Sørensen

Shift in Airdrop Strategy Reflects Changing Market Dynamics

chest

Optimism's decision to reallocate tokens indicates a shift away from broad airdrops towards more strategic ecosystem investments.

user avatarLucas Weissmann

Optimism Governance Approves Reallocation of OP Tokens

chest

Optimism governance has approved the transfer of 5469 million OP tokens from user airdrop reserves to a Strategic Ecosystem Fund managed by the Optimism Foundation.

user avatarRajesh Kumar

Arbitrum Launches ArbOS 61 Elara Upgrade

chest

Arbitrum has activated its ArbOS 61 Elara upgrade, introducing new tools for Orbit chains and expanding contract size limits.

user avatarEmily Carter

Offchain Labs Plans to Enhance Arbitrum's Withdrawal Times with ZK Proofs

chest

Offchain Labs is working on integrating zero-knowledge proofs into Arbitrum's BoLD settlement protocol to significantly reduce withdrawal times.

user avatarFilippo Romano

Solana Validators Prepare for Governance Vote on Economic Proposals

chest

Solana validators are preparing for a governance vote on a package aimed at reducing SOL issuance pressure through fee burning and inflation reduction, with the vote scheduled for August 23.

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.