Do Kwon’s U.S. Court Hearing Delayed: 4TB of New Evidence Uncovered

The post Do Kwon’s U.S. Court Hearing Delayed: 4TB of New Evidence Uncovered appeared first on Coinpedia Fintech News

It seems like Do Kwon Do Kwon Do Kwon is an entrepreneur, known as the co-founder and ex-CEO of Terraform Labs. This company created the cryptocurrencies Terra (LUNA) and TerraUSD (UST). Kwon's career is notable. He co-founded Terraform Labs in January 2018 with Daniel Shin. Their goal is to enhance payment systems using blockchain technology. This effort led to the creation of the Terra blockchain and its tokens, LUNA and UST. Details: Organization: Terra Money Location: South Korea Education: BS in Computer Science from Stanford University  Experience: Founder & CEO at Terraform Labs logo from Jan 2018 - Present  Founder & CEO at Anyfi Inc. from Jan 2016 - Oct 2017  FAQ's 1. When was Terraform was launched? Terraform was launched in 2018. 2. What is the net worth of Do Kwon? Do Kwon's net worth is $10 Billion   EntrepreneurCrypto and Blockchain ExpertChief Executive Officer fate is set in stone! Terraform Labs co-founder Do Kwon’s U.S. court hearing has been postponed after prosecutors uncovered a massive trail of new evidence. Originally set for March 6, the hearing will now occur on April 10, giving both sides more time to review the findings. 

There Is More to Unearth!

After reviewing the details, Judge Paul Engelmayer of the Manhattan federal court granted the delay after prosecutors revealed they had discovered an additional four terabytes of evidence, including data from various electronic accounts and third-party entities. This follows a release of 600GB of evidence containing Do Kwon’s phone data, emails, and crypto transaction records.

Despite this delay, Kwon’s final trial is still scheduled for January 26, 2026. The court has ordered both sides to submit pretrial motions by July 1, with responses due by August 11.

Meanwhile, Do Kwon pleaded not guilty and said he was shocked to see the market reaction post-Terra collapse. 

The Fallout from Terra’s Collapse

Kwon’s legal troubles stem from the dramatic collapse of Terraform Labs’ ecosystem in May 2022. The algorithmic stablecoin TerraClassicUSD (USTC) lost its peg and plummeted below $0.01, triggering panic selling that wiped out $60 billion in market value. The collapse of USTC also dragged down the Terra Luna Classic (LUNC) token, causing widespread investor losses.

Following the collapse, Kwon moved between Singapore and Dubai before being arrested in Montenegro in March 2023 while attempting to travel with a fake Costa Rican passport. He served a four-month prison sentence before being extradited to the U.S. in December 2024.

On January 2, 2025, Kwon appeared before a U.S. judge and pleaded not guilty to nine felony charges related to fraud.

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SEC Takes Action Against Kwon and Terraform Labs

In addition to criminal charges, Kwon and Terraform Labs are facing civil penalties from the U.S. Securities and Exchange Commission (SEC). The SEC has accused Kwon of misleading investors about the stability of the Terra ecosystem. In April 2024, a jury found both Kwon and Terraform Labs guilty of defrauding investors.

Following the verdict, the SEC sought $5.3 billion in fines, citing it as a conservative estimate of the fraudulent gains. The court ultimately imposed a $4.5 billion penalty on Kwon and Terraform Labs, adding to their mounting legal challenges.

With more evidence coming to light, the case against Do Kwon continues to unfold, keeping the crypto industry on edge as one of its most controversial figures fights legal battles on multiple fronts.

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