Do Kwon Pleads Not Guilty In First US Hearing After Extradition
The latest developments show that Terraform Labs co-founder Do Kwon appeared before a U.S. magistrate judge on January 2, 2025, and pleaded not guilty to the charges in Manhattan at his first legal hearing since extradition to the United States.
Kwon faces multiple charges of securities fraud, wire fraud, money laundering, and commodities fraud for his role in the 2022 collapse of the Terra ecosystem.
Montenegro had previously approved Do Kwon’s extradition to the United States due to the collapse of the TerraUSD and Luna cryptocurrencies, but rejected South Korea’s request. Previously, Montenegro’s Supreme Court ruled that the legal conditions for extradition had been met following extradition requests from South Korea and the United States.
