Do Kwon, co-founder of Terraform Labs, faces criminal fraud charges in a U.S. court after being extradited from Montenegro, where he served a sentence for document forgery. He is accused of misleading investors about the stability of TerraUSD, leading to a $40 billion loss in 2022. Prosecutors have charged him with multiple counts of securities and wire fraud. Kwon previously agreed to an $80 million civil fine and settlement with the SEC. He did not attend a civil trial last year due to his detention, while Terraform declared bankruptcy. Other crypto moguls are also facing legal issues amid the market downturn.
