US Prosecutors Expand Investigation on Do Kwon with Account Access

user avatar

by Giorgi Kostiuk

2 years ago

US prosecutors are expanding their investigation into Terraform Labs co-founder Do Kwon, securing search warrants for his accounts and devices.

Investigation Expansion

In January 2023, a federal court in the Southern District of New York approved the prosecutors' request for search warrants for Do Kwon's accounts, including his email and Twitter, as well as other devices. Prosecutors expect to access terabytes of data potentially related to the case.

Parallels with Sam Bankman-Fried Case

The case against Do Kwon is similar to the case of former FTX CEO Sam Bankman-Fried, who was extradited from the Bahamas. Initially charged with eight counts in March 2023, another count—money laundering conspiracy—was added in 2024.

Potential Consequences for Do Kwon

Do Kwon, extradited from Montenegro to the US, faces nine felony charges, including fraud and money laundering. If convicted, Do Kwon could face significant prison time, similar to Bankman-Fried, who was sentenced to 25 years.

The investigation into Do Kwon reflects the US authorities' strong stance against violations in the cryptocurrency industry.

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

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

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.