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Regulation

Terraform Labs Founder Do Kwon Admits Guilt in $40B Crypto Fraud

The South Korean entrepreneur faces up to 25 years for misleading investors about TerraUSD token.
He admitted he lied about how his stablecoin maintained its $1 value and secretly used trading firms to prop up prices.

Wednesday, 13/08/2025 | 08:32 GMT by Damian Chmiel

CryptoCurrency

Terraform Labs' Do Kwon Pleads Not Guilty to US Fraud Charges

He faces nine charges, including wire, securities, and commodities fraud.
He is being prosecuted by the Manhattan US attorney’s office, the same team that brought Sam Bankman-Fried to trial.

Friday, 03/01/2025 | 05:18 GMT by Arnab Shome

CryptoCurrency

Montenegro Extradites Do Kwon to the US, Prioritizing Fraud Charges

The extradition followed 18 months of legal battles and a review by the Supreme Court.
Kwon's company was behind the TerraUSD collapse that lost nearly $40 billion.

Tuesday, 31/12/2024 | 13:01 GMT by Tareq Sikder

CryptoCurrency

Terraform Labs Founder Do Kwon to Face US Fraud Charges After Extradition

Montenegro's Minister of Justice, Bojan Božović, signed the extradition order after a Supreme Court review.
Kwon faces securities fraud and investor deception charges in the US following the collapse of Terraform Labs.

Friday, 27/12/2024 | 18:39 GMT by Jared Kirui

Regulation

2.5Y After Terra and Luna Collapse, SEC Reaches $123 Million Settlement with Crypto Firm

The regulator fines Tai Mo Shan for allegedly misleading investors about Terra USD stablecoin's stability mechanism and illegal LUNA token distribution.
The case follows Terraform Labs' $4.5B fraud settlement from April 2024.

Monday, 23/12/2024 | 11:48 GMT by Damian Chmiel

CryptoCurrency

Do Kwon’s Extradition Hits a Roadblock as Montenegro Court Hits Pause

The extradition to South Korea is postponed as the court examines procedural issues.
US charges him with fraud while South Korean charges are unknown.

Friday, 09/08/2024 | 07:49 GMT by Tareq Sikder

CryptoCurrency

Do Kwon Will Be Extradited to South Korea: Montenegro Court Rejects the US’s Bid

The appeals court has upheld the previous ruling by a lower court.
South Korea did not officially process any charges against him.

Friday, 02/08/2024 | 04:39 GMT by Arnab Shome

CryptoCurrency

SEC Settles with Terraform Labs and Do Kwon for $4.5 Billion

The agreement deal is yet to receive the approval of a judge.
Initially, the SEC proposed to receive $5.3 billion, but the defendants’ lawyers countered it with $1 million.

Thursday, 13/06/2024 | 05:14 GMT by Arnab Shome

CryptoCurrency

Do Kwon and Terraform Labs Reach Settlement with SEC in Civil Fraud Case: Report

US District Judge Jed Rakoff of Manhattan has requested supporting documents from both parties by June 12.
In April, a jury found Kwon and Terraform Labs liable for civil fraud charges.

Thursday, 30/05/2024 | 17:23 GMT by Jared Kirui

CryptoCurrency

Do Kwon's Extradition Case Sent Back to High Court after Appeal: Report

The initial ruling that allowed Kwon's extradition was found to lack decisive facts and valid reasons.
The High Court must now ensure that his consent to extradition is voluntary, informed, and irrevocable.

Friday, 24/05/2024 | 19:06 GMT by Jared Kirui

CryptoCurrency

SEC Seeks a Total of $5.3 Billion from Terraform Labs and Do Kwon

The funds are sought in the form of recovery and civil penalties.
Earlier, the US court ruled that Terraform and Kwon are liable for fraud in the case brought by the SEC.

Tuesday, 23/04/2024 | 07:43 GMT by Arnab Shome

CryptoCurrency

Terraform Labs’ Do Kwon Released from Montenegro Prison

His release came as the country's top court squashed his extradition to South Korea.
However, the Montenegro authorities held back his passport, preventing him from traveling outside the country.

Monday, 25/03/2024 | 05:08 GMT by Arnab Shome

CryptoCurrency

Extradition of Terraform Labs’ Do Kwon to South Korea Stalls

The top prosecutor of Montenegro challenged the authority of the High Court in Kwon’s case.
The case is not likely to move to the country’s Supreme Court.

Friday, 22/03/2024 | 08:00 GMT by Arnab Shome

CryptoCurrency

Terraform Labs’ Do Kwon Lost Appeal against South Korea Extradition

The appeals court in Montenegro upheld the earlier decision to extradite Kwon to South Korea.
He is expected to face “several criminal charges” in South Korea.

Thursday, 21/03/2024 | 05:11 GMT by Arnab Shome

CryptoCurrency

Do Kwon's Fate Sealed: Montenegrin Court Rules for South Korean Extradition

The High Court ruled to extradite Kwon to the US following the appeals court's reversal.
Meanwhile, the US SEC sought summary judgment against Kwon and Terraform Labs.

Thursday, 07/03/2024 | 17:44 GMT by Tareq Sikder

CryptoCurrency

Do Kwon Faces Extradition to the US Following Latest Court Ruling in Montenegro

Kwon stands accused of criminal charges in the US related to the collapse of Terraform Labs.
Montenegrin authorities have emphasized the political significance of his extradition to the US.

Wednesday, 21/02/2024 | 19:31 GMT by Jared Kirui

CryptoCurrency

Terraform Labs’ Former CFO Extradited to South Korea to Face Criminal Charges

Han Chang-joon and Do Kwon face charges for falsified documents in Montenegro.
Montenegro's court of appeals will decide on Kwon's extradition appeal.

Monday, 05/02/2024 | 18:37 GMT by Jared Kirui

CryptoCurrency

Do Kwon’s Extradition Put on Hold Due to Procedural Error

The US and South Korea are seeking Kwon's extradition following the collapse of Terraform Labs.
The Co-Founder of Terraform Labs allegedly did not get a chance to present his stance on the matter.

Tuesday, 19/12/2023 | 13:11 GMT by Jared Kirui

CryptoCurrency

Do Kwon and Terraform Labs Face Escalating Troubles: Class Action Advances in Singapore

Terraform Labs is grappling with a major legal battle over the collapse of the UST token.
A class action representing more than 300 parties was filed in September last year.

Friday, 01/12/2023 | 13:45 GMT by Jared Kirui

News

Montenegro Court Nods to Extradition: Do Kwon's Future Hangs in the Balance

The High Court disclosed that he has opted for an expedited extradition to South Korea.
A minister will decide whether to hand him over to South Korea or the United States.

Friday, 24/11/2023 | 12:40 GMT by Tareq Sikder

CryptoCurrency

Terraform Labs' Do Kwon Denied Appeal in Passport Fraud Case

Kwon faces extradition to the US or South Korea.
He has been in custody since his arrest in March.

Friday, 17/11/2023 | 19:38 GMT by Jared Kirui

CryptoCurrency

SEC Pushes for Summary Judgment: Alleging Do Kwon and Terraform Sold Securities

In response, the defense team has asserted that the SEC has failed to prove that they were offering securities.
Kwon was arrested in March in Montenegro with forged documents.

Friday, 03/11/2023 | 13:41 GMT by Tareq Sikder

CryptoCurrency

Do Kwon Fights Back: Opposes SEC's Terraform Labs Probe

Kwon's lawyers argue that bringing him to the US for questioning is impossible.
The SEC seeks to interview Kwon regarding the collapse of TerraUSD stablecoin.

Thursday, 28/09/2023 | 14:14 GMT by Jared Kirui

CryptoCurrency

Terra’s Website Compromised: Users Advised to Steer Clear of Phishing Scam

The blockchain's developers have urged users to use the official communication channels.
Scammers have reportedly mimicked the official site, tricking users into revealing sensitive information.

Monday, 21/08/2023 | 16:56 GMT by Jared Kirui

CryptoCurrency

South Korea Introduces Special Unit to Combat Illegal Crypto Activities

The unit is expected to protect investors in the country.
Crypto-related crimes have increased by nearly 120% in South Korea.

Wednesday, 26/07/2023 | 08:32 GMT by Jared Kirui

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