The judicial case involving Do Kwon, co -founder of Terraform Labs, is experiencing a new twist. American prosecutors have recently presented a massive quantity of new evidence, leading to the postponement of the initially planned audience.
New data on Do Kwon Discovered
Do Kwon's judicial setbacks continue. The founder of Terraform, under 9 counts, including fraud, a criminal association and market manipulation, sees his audience pushed from March 6, 2025 to April 10, 2025. The reason? Prosecutors discovered a series of new evidence regarding the TERRA.
These are 4 new evidence teraoctets which must be analyzed. Four mobile phones, data from various electronic accounts and third -party entities … This discovery is added to 600 evidence gigabytes Already subject on February 27, 2025, including emails and transactions in Cryptocurrencies from Do Kwon.
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Judge Paul Engelmayer of the Manhattan Federal Court accepted the request for postponement in order to give the defense time to analyze this consequent volume of evidence. Despite this new period, Do Kwon's main trial remains scheduled for the January 26, 2026.
With 9 charges in the United States, Do Kwon risks up to several decades in prison for fraud and manipulation of financial markets, as well as a fine of $ 4.5 billion per sec. In South Korea, he could be sentenced to up to 40 years in prison, making him one of the largest financial fraudsters in the country.
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Do kwon still pleads not guilty
As a reminder, DO KWON's judicial troubles find their origin in the spectacular collapse of the terra ecosystem in May 2022. The stablecoin algorithmic terrausd (UST), supposed to reply the dollar, had then lost its anchoring and fell below $ 0.01.
This destabilization had caused panic on the market, erasing about $ 60 billion of market value and also affecting the Token Terra Luna Classic (LUNC).
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After this collapse, Do Kwon had left South Korea, traveling between Singapore and Dubai, before being arrested in Montenegro in March 2023 for trying to travel with a false Costaorian passport. He served a 4-month prison sentence before being extradited to the United States in December 2024.
On January 2, 2025, he appeared before an American court and pleaded not guilty to the 9 chiefs of fraud against him.
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Source : X
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