March 5, 2025
New Evidence Uncovered
Judge Paul Engelmayer approved the delay after prosecutors revealed an additional 4TB of data, including information from electronic accounts and third-party sources.
Source: U.S. Department Of Justice
This adds to the 600GB of evidence already released, which includes Kwon’s phone data and crypto transaction records. Kwon’s final trial is still set for January 26th with pretrial motions due by July 1st.
Terra’s Collapse & Legal Fallout
After Terra’s collapse in 2022, Kwon was arrested in Montenegro in March 2023 while attempting to travel with a fake passport. He was extradited to the U.S. in December 2024 and pleaded not guilty to nine felony charges in January 2025.
Kwon and Terraform Labs are also facing civil penalties from the U.S. SEC, which accuses them of misleading investors about Terra’s stability. In April 2024, a jury found Kwon guilty, and the SEC sought $5.3 billion in fines. The court also imposed a further $4.5 billion penalty.
