Do Kwon News

The next hearing in the US government’s case against Terraform Labs co-founder Do Kwon has been delayed until April after prosecutors said they found another four terabytes of evidence.

As part of discovery proceedings, prosecutors said they would search the Terraform Labs co-founder’s emails and Twitter account.

The Terraform Labs co-founder is in US custody after pleading not guilty to nine felony charges related to fraud at the platform.

Do Kwon, Terraform Labs co-founder, was extradited to the US by Montenegro, bypassing South Korea’s petition.

The Terraform Labs co-founder was indicted on eight felony charges in 2023 but will likely face an additional count for money laundering conspiracy.

“The defendant orchestrated schemes to defraud purchasers of cryptocurrencies,” the indictment against the Terraform co-founder read.

The Terraform Labs co-founder was arrested in Montenegro in 2023 for using falsified travel documents as the courts determined whether he would go to the US or South Korea.

Do Kwon was apprehended by law enforcement in Montenegro in June 2023 after attempting to flee the country with a false passport.

Montenegro’s Constitutional Court rejected Do Kwon’s appeal, backing his extradition amid claims by the US and South Korea.

The SEC reported an unprecedented $8.2 billion in fiscal penalties, mainly due to Terraform Labs’ record $4.47 billion settlement.

Terraform Labs’ $4.5 billion settlement with the SEC contributed to a record year for the agency’s financial penalties.

Binance clarified its forthcoming BFUSD asset is not a stablecoin after crypto users showed concerns over its promise of high yields.

Do Kwon’s extradition has been delayed again, to the surprise of the Justice Ministry.

Terraform Labs plans to shut down several services by Oct. 30 unless third parties step in, following a wind-down after its SEC settlement in June.

According to Montenegro’s Supreme Court, the US and South Korea had both met the conditions for applying for Do Kwon’s extradition to face criminal charges.