Terraform Labs co-founder Do Kwon appeared before a United States magistrate on January 2, 2025, where he pleaded not guilty to several charges in his first legal appearance since his extradition to the US. The charges against Kwon include securities fraud, wire fraud, money laundering, and commodities fraud, all related to his alleged role in the collapse of the Terra ecosystem in 2022. The hearing was held in Manhattan before US Magistrate Judge Robert Lehrburger of the Southern District of New York. This marks a significant development in the ongoing legal proceedings involving Kwon, whose extradition has been a subject of international legal discussions since 2023. As the case unfolds, further details are expected to emerge.
