Cryptocurrency Fraud Legal Proceedings News

"US SEC Delays Terraform Labs Trial for Do Kwon's Extradition to March"

The U.S. SEC has agreed to delay the civil trial against Terraform Labs and co-founder Do Kwon for their alleged involvement in a $40 billion cryptocurrency fraud, in order to accommodate Kwon's extradition and attendance. The SEC opposed separate trials for Terraform and Kwon, citing the similarity of the cases, and requested a trial date of April 15 to accommodate scheduling conflicts. The case revolves around the collapse of TerraUSD and Luna, with Kwon also facing related U.S. criminal charges and an extradition request from South Korea.