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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...

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...