PANews reported on January 7, according to Cointelegraph, that the prosecutor responsible for overseeing the criminal case of Terraform Labs co-founder Do Kwon estimates that the collapse of the Terra ecosystem may have caused over one million victims worldwide. On January 6, Daniel Gitner, the acting U.S. Attorney for the Southern District of New York, informed the court in a submitted document about the procedure for notifying Kwon's victims of their rights in the criminal case. According to the U.S. Attorney, the government will establish a public website concerning the Kwon case because other methods of providing rights protections for victims are 'unrealistic.'
Gitner stated, 'Given the massive volume of transactions involving Terraform cryptocurrency and the manner in which these transactions occurred (many of which were conducted on foreign exchanges via digital asset wallets or cryptocurrency trading accounts without personal identification information), while it is challenging to accurately 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.'
According to previous reports, Kwon is expected to appear in court again on January 8.
