Do Kwon Expected to Plead Guilty Over $40 Billion Terra Collapse

Alleged crypto crook Do Kwon—who was behind the failed crypto project Terra—is now expected to plead guilty, court documents show.

A scheduling order for a potential change of plea in the United States’ case against Kwon was filed Monday ahead of the conference on Tuesday, August 12.

Kwon previously pleaded not guilty in a New York court to U.S. criminal charges including fraud over the collapse of the project, which failed in 2022, leaving a $40 billion black hole and many investors out of pocket.

This is a breaking news story and will be updated.