Terraform Labs unsuccessfully fought the US indictment before filing for bankruptcy in the US in January 2024. Do Kwon agreed in June 2024 to pay an $80 million civil fine and be banned from crypto transactions as part of a $4.55 billion settlement Terraform reached with the US Securities and Exchange Commission.

By Luc Cohen NEW YORK (Reuters) -Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, pleaded not guilty on Thursday to U.S.

Terraform Labs co-founder Do Kwon denies fraud charges in U.S. court after extradition, while facing allegations tied to $40B Terra collapse.

Do Kwon was extradited from Montenegro to face fraud charges in the US related to Terraform's $40 billion collapse.

Alleged crypto fraudster Do Kwon was facing multiple federal charges in the United States Thursday after being extradited from Montenegro. He was a fugitive wanted in the 2022 $40 billion TerraUSD collapse.

Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was set to appear in U.S. court on Thursday to face criminal fraud charges after being extradited from Montenegro this week.

Do Hyeong Kwon, the 33-year-old co-founder and former CEO of Terraform Labs, has been extradited from Montenegro to the United States to face serious fraud charges. Kwon’s involvement in the collapse of cryptocurrencies linked to Terraform caused devastating losses,