Do Kwon, the co-founder of Terraform Labs, has pleaded not guilty to multiple charges, including fraud and money laundering, in a Manhattan federal court. This follows his extradition from Montenegro. The case involves allegations that Kwon deceived investors between 2018 and 2022, which culminated in a catastrophic $40 billion collapse of the company's cryptocurrency.
Prosecutors claim that Kwon facilitated transactions exceeding $10,000 while being aware of their illicit nature. This high-profile legal battle highlights ongoing concerns about fraud in the cryptocurrency industry and underscores the need for regulatory scrutiny.
