Terra Founder Do Kwon’s Trial Process and Defense

Despite being under house arrest in Canada, extradition requests from the US and South Korea for Terraform Labs founder Do Kwon have been canceled by local courts. Kwon, known as a crypto fraudster, is believed to have convinced those who will protect him. The legal battle between Terraform Labs and the SEC continues in the US during his trial.

Current Status of Terra Case

The lawsuit between Terraform Labs and the SEC continues in the US. Kwon is accused of defrauding many people in America and lawyers defend on his behalf. SEC attorneys claim that Terraform’s business model is built on lies, while Terraform lawyers defend that Kwon has always been honest and that the SEC has taken information out of context and misinterpreted it.

Terra Defense Strategy

In February 2023, the SEC filed a lawsuit against Terraform alleging cryptocurrency securities fraud. Pellegrino, Terraform’s attorney, asserts that Kwon’s statements are accurate, but the SEC has misinterpreted the information. Kwon appealed the extradition decisions and was justified by the Canadian courts.

Key Points to Consider

Do Kwon is currently under house arrest in Canada and extradition requests have been rejected.
In the US trials, Terraform Labs is accused of fraud by the SEC.
While SEC alleges that Terraform’s business model is based on lies, the defense team rejects these accusations.
Kwon was arrested on charges of using fake travel documents and successfully appealed the extradition decisions.
Despite the decline of the Terra ecosystem, the LUNA Coin price continues to find buyers.

As long as Do Kwon does not attend the trials and remains free in Canada, the price of LUNA Coin is trading at $0.92. This demonstrates the decline of the new LUNA Coins distributed after the ecosystem’s collapse.