$LUNA

Do Kwon News Update

Extradition and Charges: Do Kwon, the founder of Terraform Labs, was extradited from Montenegro to the United States and is facing charges of fraud linked to the collapse of the stablecoin terraUSD, which resulted in a $40 billion loss.

(Source: BBC)

Court Plea: On January 2, 2025, Kwon pleaded not guilty to nine charges, including securities fraud, commodities fraud, and money laundering, before US Magistrate Judge Robert Lehrburger in Manhattan. Through his lawyer, Kwon agreed to remain in custody without bail.

(Source: Reuters)

Arrest in Montenegro: Kwon was arrested in Montenegro in March 2023 for using a fake passport while attempting to board a private jet to Dubai. After serving a four-month sentence in Montenegro, he was extradited to the US.

(Source: BBC)

Ongoing Proceedings: The case is being handled by the US Attorney’s Office in Manhattan, known for managing high-profile cryptocurrency cases. The next hearing is scheduled for January 8, 2025.

(Source: Reuters)