US Prosecutors Estimate Over 1 Million Victims in Do Kwon Crypto Fraud Case
U.S. prosecutors pursuing criminal charges against Terraform Labs co-founder Do Kwon have estimated that the collapse of the TerraUSD and Luna cryptocurrencies may have affected more than one million individuals and entities.
The estimate was revealed in a filing submitted on January 6 by acting U.S. Attorney Daniel Gitner to the U.S. District Court for the Southern District of New York.
Over 1 Million People Affected
Gitner admitted that accurately determining the number of individuals affected by Kwon’s actions is challenging due to the large amount of purchases and sales of Terraform’s cryptocurrencies and the nature of those transactions. However, he also said:
“The Government estimates that the number of…
