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Terraform Labs founder Do Kwon is set to face trial in 2026 in New York on fraud charges, according to a Bloomberg report. Kwon is facing criminal fraud charges tied to the $40 billion collapse of the TerraUSD stable coin in 2022. JUST IN: Do Kwon to go to trial in 2026 on criminal fraud charges tied to the $40 billion collapse of TerraUSD stablecoin. pic.twitter.com/dMT0lafUmJ — Watcher.Guru (@WatcherGuru) January 8, 2025 According to US District Judge Paul Engelmayer in NYC, Do Kwon’s trial is scheduled for January 26, 2026. It’s expected to last four to eight weeks. Kwon has pleaded not guilty , after returning to the US following a 2-year extradition saga. Arrested in 2023, Kwon’s extradition has been the topic of discussion for the last two years. Kwon was apprehended for attempting to fly from Montenegro with falsified documents. With South Korea still charging the former crypto mogul, the country had opted to send him to the United States. Source: Coingape Also Read: ...

Montenegrin authorities extradited crypto entrepreneur Do Kwon to the United States on Sunday to face fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022. According to a Reuters report, Kwon, who co-founded Terraform Labs, was arrested in Montenegro last March while attempting to board a flight using a fake Costa Rican passport. He had evaded authorities since the May 2022 crash of his TerraUSD and Luna cryptocurrencies. The extradition followed the Montenegro Constitutional Court’s rejection of Kwon’s final appeal. “It was concluded that the majority of the criteria prescribed by law favor the extradition request from the competent authorities of the United States of America. Consequently, the Minister of Justice issued a decision approving the extradition of Kwon Do Hyung to the United States, while simultaneously rejecting the extradition request from the Republic of Korea.” Kwon faces multiple charges in the US, incl...

Disgraced Terra (LUNA) founder Do Kwon is reportedly going to be extradited to the US after losing an appeal in a Montenegrin high court. According to a new report by France 24, Kwon – the person suspected of being behind the multibillion-dollar downfall of the Terra ecosystem in 2022 – had his appeal thrown out by the Montenegrin Constitutional Court, which earlier in the year ruled that the conditions for his extradition have been met. However, Justice Minister Bojan Bozovic still had to decide whether to extradite Kwon to the US or South Korea, both of which have pending charges against him. As stated by the Montenegrin Ministry of Justice, according to the report, “It was concluded that the majority of the criteria prescribed by law favor the extradition request from the competent authorities of the United States of America. Consequently, the Minister of Justice issued a decision approving the extradition of Kwon Do Hyung to the United States, while si...

Do Kwon’s controversial extradition to South Korea could have been part of a trade deal that would give the country control of Montenegro’s airports for 30 years, according to the former Justice Minister. Andrej Milović, who is now running for mayor, told publisher Vijesti that Prime Minister Milojko Spajić would use Do Kwon as a tool to trade state interests and resources “as compensation for covering up this case.” Spajić supposedly prepared for months to give France concession over Montenegro’s airports. However, Milović says that he began to “speak positively” about a South Korean airport deal after the court of appeal ruled that Do should be extradited to South Korea. “Therefore, I ask Spajić, did he extort extradition in order to cover up the case, in exchange for the Montenegrin Airport concession?” he said.   Pictures of Podgorica Airport in Montenegro’s capital (Sourced from Wikimedia Commons). He added, “By extraditing Do Kwon to South Kore...

The Supreme Court is reportedly expected to decide if the Do Kwon extradition judgment violated the law by the end of the month, according to its acting president.  Indeed, Vesna Vučković told the Montenegrin publisher Vijesti that the Supreme Court will be deciding on a “request for the protection of legality” filed by the Supreme State Prosecutor.  Vučković says the prosecutor believes there have been multiple law violations from the High Court and Appellate Court final judgments regarding the extradition of the disgraced crypto founder Do Kwon.  She noted objective reasons have prevented the Supreme Court from scheduling a session to decide on the prosecutor’s legal request. CHART: Every Do Kwon extradition twist and turn Read more: Montenegro’s PM likely lied about Do Kwon meeting after Luna buy Protos has charted his court journey and found the latest extradition postponement from the Supreme Court marked the 20th development in his case and the Suprem...

Amidst legal turmoil and Terraform Labs’ collapse , Do Kwon’s Serbian venture Codokoj22 remains active. Terraform Labs, the company behind the $60 billion collapse in the crypto market, filed for Chapter 11 bankruptcy in the U.S. on January 21, nearly two years after its dramatic failure. However, Codokoj22 d.o.o. Beograd, another venture by Terraform’s founder Do Kwon, remains active. Established in Serbia in 2022, while Kwon was evading an Interpol red notice, the company’s purpose remains unclear. This Serbian enterprise called Codokoj22, co-founded with Han Chang Joon, is legally operational despite Kwon’s current legal predicaments. With a minimal investment of less than one dollar, the company is headquartered in Belgrade’s old town. Screenshot of Do Kwon’s Serbian firm registration | Source: bisnode.rs Interestingly, despite Kwon and Chang-Joon’s arrest and conviction for using false documents, Serbian law doesn’t ...

Terra founder Do Kwon has lost his appeal against a four-month prison sentence with a Montenegro High Court rejecting his claims and describing them as “unfounded.” In a statement issued today, the Podgorica Higher Court rejected Kwon’s appeal against a lower court judgment. It said that the Podgorica Basic Court had “correctly and completely established the factual situation,” “correctly applied the Criminal Code of Montenegro,” and “determined and evaluated all the circumstances that influence the choice of criminal sanction and its amount.” Do Kwon had attempted to appeal a prison sentence after he and Terra executive Han Chang-Joon were found guilty of falsifying documents. The pair have remained in custody in Montenegro since their arrest in March and are awaiting extradition to either the US or South Korea . Will arrested Terra founder Do Kwon be extradited to the US or South Korea? Read more: South Korea lead prosecutor says Do Kwon likely to spend most o...