The supplemental indictment of Do Kwon includes the charge of money laundering

The co-founder of Terraform Labs has been charged with eight counts in 2023 but is likely to face an additional charge of conspiracy to commit money laundering.

The U.S. Attorney's Office revealed additional charges against Terraform Labs co-founder Do Kwon after he was extradited from Montenegro: conspiracy to commit money laundering.

In the supplemental indictment released on January 2 in the U.S. District Court for the Southern District of New York, U.S. Attorney Damian Williams accused Kwon of conspiring with others to commit money laundering.

According to the U.S. Attorney, the co-founder of Terraform facilitated transactions worth over $10,000 on this platform “knowing that the assets involved in certain financial transactions were proceeds from certain forms of illegal activity.”

The charge of money laundering is part of the amended indictment that was not initially filed as part of the original indictment consisting of eight counts against Kwon in March 2023. Prosecutors filed the sealed indictment in May 2024, and a judge ordered the indictment to be made public during Kwon's trial on January 2.