US Prosecutors Expand Investigation on Do Kwon with Account Access

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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.

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