Terraform Labs co-founder potentially faces 130-year prison sentence in U.S.

Terraform Labs co-founder Do Kwon was extradited from Montenegro and faced federal fraud charges in a Manhattan court, according to a Jan. 2 press release from the U.S. Department of Justice. If convicted on all counts, he could face up to 130 years in prison. Kwon, who arrived in the U.S. on Dec. 31, 2024, is accused of devising fraudulent schemes involving Terraform's cryptocurrencies, resulting in investors losing over $40 billion. His case will be heard before Judge John P. Cronan in the U.S. District Court, with an initial conference scheduled for Jan. 8 at 15:30 UTC.