BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Former Terra CEO Do Kwon Pleads Not Guilty in $40 Billion Crypto Trial
Former Terra CEO Do Kwon Pleads Not Guilty in $40 Billion Crypto Trial
5
3
Do Kwon, the South Korean cryptocurrency entrepreneur and co-founder of Terraform Labs, pleaded not guilty to a series of criminal fraud charges in a Manhattan federal court. This comes just days after his extradition from Montenegro, where he had been detained for over a year. His case centers around the collapse of TerraUSD and Luna (LUNC), which collectively lost an estimated $40 billion in 2022. Federal prosecutors unsealed a nine-count indictment accusing Kwon of multiple offenses, including securities fraud, wire fraud, commodities fraud, and conspiracy to commit money laundering.
