Deep Tide TechFlow news, on January 7, according to Cointelegraph, the prosecutors responsible for overseeing the criminal case of Do Kwon, co-founder of Terraform Labs, estimate that after the collapse of the Terra ecosystem, Do Kwon 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, notified the court in documents submitted regarding the procedure 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 public procedures regarding the Kwon case, as other methods of providing rights protections for victims are deemed 'impractical.'
Gitner stated: 'Given the enormous volume of transactions involving Terraform cryptocurrency and the manner in which these transactions are conducted (many of which occur on foreign exchanges via 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 hundreds of thousands of individuals and entities, and may total over one million.'
Previously, Do Kwon's lawyer stated that they are currently not seeking bail and are expected to appear in court again on January 8.
