Jan 8, 07:04 PM

Prosecutors Estimate Over One Million Victims from 2022 Terra Ecosystem Collapse; Do Kwon Faces Nine Fraud Charges in January 2026 Trial

U.S. prosecutors have estimated that the collapse of the Terra ecosystem, which occurred in 2022, has left over one million victims. This estimate was mentioned in court filings by Acting U.S. Attorney Daniel Gitner, who indicated that the victims include both individuals and entities. The financial repercussions of the collapse are substantial, with losses exceeding $40 billion. Do Kwon, co-founder of Terraform Labs, is facing nine fraud charges related to this incident. His trial is scheduled to commence on January 26, 2026, and if convicted, he could face a maximum prison sentence of 130 years. The trial is expected to last between four to eight weeks. Prosecutors anticipate challenges in accessing encrypted devices and translating communications as part of the case preparation.

#Terra #Daniel Gitner #Do Kwon #Terraform Labs

Written with ChatGPT (GPT-4o mini).