TechFlow reported that on January 3, Reuters reported that Andrew Chesley, the lawyer of Do Kwon, the co-founder of the crypto company Terra, defended him and said that he would not seek bail for the time being. U.S. District Court Judge Robert Lehrburger therefore ordered his detention. When the U.S. Marshals took Do Kwon out of the court, he took away a copy of the 79-page indictment and is expected to appear in court again on January 8.

Earlier, Do Kwon had pleaded not guilty to U.S. fraud charges at a hearing in the Manhattan Federal Court.