Terraform Labs co-founder Do Kwon is facing an additional legal challenge after being extradited from Montenegro.
US authorities have charged Kwon with conspiracy to commit money laundering.
This accusation was not part of the original eight charges filed against Kwon in March 2023. The updated indictment was initially sealed in May 2024 and was only made public at Kwon’s recent court appearance.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What Is Tether? (USDT SIMPLY Explained With Animations)
The new charge was included in a revised indictment revealed on January 2 in a federal court in New York. According to US Attorney Damian Williams, Kwon and others allegedly handled transactions exceeding $10,000, fully aware that the money originated from illegal activities.
At his January 2 hearing, Kwon pleaded not guilty to all charges and agreed to remain in detention. It remains unclear if prosecutors will pursue a plea agreement or proceed to trial.
The co-founder of Terraform Labs was detained in Montenegro in 2023 for attempting to use fake travel documents. Both the United States and South Korea sought his extradition, which led to months of deliberation by Montenegrin authorities. In December 2024, officials decided to hand Kwon over to US custody.
Meanwhile, a crypto lending platform, Celcius, recently decided to appeal a court ruling involving FTX. What happened? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
