U.S. Prosecutors to Pour Over “Multiple Terabytes” of Do Kwon’s Communications as Trial Date Set

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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January 8, 2025

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Federal prosecutors revealed that they anticipate a substantial amount of data from Terraform Labs founder Do Kwon’s communications as part of the evidence in his upcoming trial, according to new legal documents.

This extensive review includes an analysis of Kwon’s email accounts, social media activity, and personal devices, forming a critical part of the discovery process.

Do Kwon’s Communications Under Review as U.S. Prepares for Crypto Crime Trial

According to a January 7 filing submitted to the Southern District of New York, the U.S. government plans to comb through Kwon’s email accounts, Twitter activity, and personal devices.

The discovery process also extends to Terraform’s promotional materials, internal business records, and financial and trading documents.

During Wednesday’s hearing, Inner City Press reported that prosecutors claimed to have uncovered covert recordings of the imprisoned crypto founder, allegedly made without his knowledge.

The conference concluded with presiding Judge Paul A. Engelmayer scheduling Do Kwon’s highly anticipated trial for January 2026.

“Kwon’s constructed financial world was built on lies and manipulative and deceptive techniques used to mislead investors, users, business partners, and government regulators regarding Terraform’s business,” Tuesday’s filing states.

“Behind the scenes, core Terraform products did not work as Kwon advertised, and were manipulated to create the illusion of a functioning and decentralized financial system in order to lure investors,” it continues.

Do Kwon’s Legal Troubles Deepen Ahead of 2026 Trial

News of Kwon’s unearthed communications come just over a week after he was extradited from Montenegro in order to face charges in the United States after the country won a lengthy battle against the crypto founder’s native South Korea for his extradition.

Initially recognized for his algorithmic stablecoins TerraUSD and LUNA, Kwon’s reputation collapsed after the coins’ dramatic failure in May 2022.

The crash triggered devastating losses for the global crypto community, with prosecutors alleging that his fraud erased over $40 billion from cryptocurrency markets.

Authorities pursued Do Kwon across Asia and Europe during a months-long manhunt after Interpol issued a “red notice” for his arrest.