According to ChainCatcher news reported by Cointelegraph, prosecutors overseeing the criminal case against Terra form Labs co-founder Do Kwon have estimated that the collapse of the Terra ecosystem may have resulted in over one million victims worldwide. On January 6, acting U.S. Attorney Daniel Gitner, in a document submitted to the U.S. District Court for the Southern District of New York, notified the court about the procedures for informing Kwon's victims of their rights in the criminal case. According to the U.S. Attorney, the government will establish a website for the public procedure regarding the Kwon case, as other methods of providing rights protections for victims are deemed "impractical."
Gitner stated: "Given the massive volume of transactions involving Terraform cryptocurrency and the manner in which these transactions are conducted (many of which occur on foreign exchanges through digital asset wallets or cryptocurrency trading accounts, without personal identifying information), while it is difficult to precisely quantify the number of Kwon's victims, the government estimates that the number of victims in this case exceeds several hundred thousand individuals and entities, and may total over one million."
Previously reported, Kwon is expected to appear in court again on January 8.