U.S. Prosecutors Seek Access to Do Kwon’s Twitter Account in Criminal Case
U.S. prosecutors pursuing a criminal case against Do Kwon, co-founder of Terraform Labs, have announced plans to search his email and Twitter accounts, among other digital records, for critical evidence. The case revolves around Kwon’s alleged involvement in the collapse of the Terra ecosystem, which has been linked to substantial investor losses.
Discovery to Uncover “Multiple Terabytes of Data”
In a January 7 filing to the U.S. District Court for the Southern District of New York, prosecutors revealed plans to execute search warrants targeting Kwon’s email accounts, Twitter account, and electronic devices. The filing anticipates retrieving “multiple terabytes of data” relevant to the charges.
Prosecutors will also review trading records and materials from cryptocurrency exchanges as part of their investigation. Do Kwon’s activity on Twitter, now X, during the Terra ecosystem’s collapse in 2022, and his last public posts before his 2023 arrest in Montenegro, are expected to provide significant insight.
Nine Felony Charges Against Kwon
Kwon faces nine felony charges in the U.S., including fraud and conspiracy related to the Terra collapse. Initially charged with eight counts in March 2023, prosecutors added a ninth charge—money laundering conspiracy—in a sealed superseding indictment in 2024.
The Terraform Labs co-founder was extradited to the U.S. on December 31, 2024, following more than a year of deliberation over competing extradition requests from the U.S. and South Korea.
Parallels to Sam Bankman-Fried’s Prosecution
The legal proceedings against Kwon mirror the high-profile case of Sam Bankman-Fried (SBF), the former CEO of FTX, who was extradited from the Bahamas to the U.S. in 2022. Similar to Kwon, Bankman-Fried faced a superseding indictment that introduced additional charges after extradition.
Notably, Bankman-Fried’s legal team successfully argued to dismiss a campaign finance charge, citing it was not included in the extradition request. Prosecutors in Kwon’s case appear to be preparing for similar challenges, particularly regarding the money laundering charge, by seeking a waiver of the rule of specialty from Montenegro.
The filing clarified:
“Regardless of whether Kwon is tried on Count Nine, the Government anticipates that its proof at trial will remain unchanged, given that the evidence of Kwon’s participation in a conspiracy to launder the proceeds of his crimes also constitutes direct evidence of the other counts.”
What’s at Stake for Do Kwon?
If convicted, Do Kwon could face decades in prison, similar to Bankman-Fried, who was sentenced to 25 years after being found guilty of seven felony counts in 2023.
The ongoing case highlights the increasing scrutiny on cryptocurrency founders and the legal complexities of cross-border prosecutions. As the trial progresses, the evidence obtained from Kwon’s digital accounts could play a pivotal role in shaping the case’s outcome.
Stay tuned for updates on the trial of Do Kwon and other major cryptocurrency legal developments.
Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice.
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