Evidence 'explodes massively'! Do Kwon's criminal trial postponed to January 2026

Cryptocurrency company Terraform Labs, bankrupted due to the collapse of Algorithmic Stable Coin Terra USD (UST), co-founder and former CEO Do Kwon's criminal fraud case in the United States is tentatively scheduled for January 2026, allowing prosecutors and Do Kwon's defense lawyers ample time to review the 'enormous' 6 TB data expected to emerge during the criminal evidence disclosure process.

During the preliminary hearing held in Manhattan on January 8, Chief Prosecutor Jared Lenow told the court that the government expects further delays in the trial process due to challenges in unlocking and obtaining encryption information from 4 mobile phones. These 4 mobile phones were provided by Montenegro when Do Kwon was extradited to the United States on December 31 last year.

Prosecutor Jared Lenow also stated that the authorities must translate the Korean data extracted from the mobile phone. Korean is Do Kwon's native language.

Judge Paul Engelmayer of the Southern District of New York also humorously remarked, 'It sounds like we will have to provide U-Haul truck rental service support to the Southern District Court.'

The judge said that postponing the start of the trial for more than a year was "unprecedented" in his judicial career. He told Michael Ferrara, the lead defense attorney for Do Kwon at Hecker Fink law firm, to inquire whether his client, Do Kwon, is willing to be tried early. Do Kwon had been detained in Montenegro for 22 months and is currently being held in Manhattan Detention Complex without bail. The judge gave the defendant a week to request an early trial in 2026.

Do Kwon refused to plead guilty to 9 charges last week, including securities fraud, telecommunications fraud, commodities fraud, and conspiracy to commit money laundering. Prior to the collapse of the Terra ecosystem in 2022, which involved assets worth $40 billion, it is estimated that over 1 million people were affected.

Do Kwon and his company were previously charged with civil crimes by the U.S. Securities and Exchange Commission (SEC), then found guilty by a jury, and later ordered to pay a total of $4.5 billion in fines and confiscated illegal gains, with Do Kwon being fined $200 million. Subsequently, Terraform Labs filed for bankruptcy.

The next status meeting for this case is scheduled to take place on March 6th.

"Massive" evidence! Do Kwon's criminal trial postponed to January 2026