PANews reported on January 7 that according to Cointelegraph, the U.S. government prosecutor responsible for overseeing the criminal case of Terraform Labs co-founder Do Kwon estimated that after the collapse of the Terra ecosystem, Do Kwon may have caused more than one million victims worldwide. On January 6, Daniel Gitner, the acting U.S. Attorney of the U.S. Federal Court for the Southern District of New York, notified the procedure for informing Kwon's victims of their rights in criminal cases in a document submitted to the court. According to U.S. prosecutors, the government will establish a website for public procedures on the Kwon case because other methods of providing rights protection for victims are "impractical."
“While it is difficult to precisely quantify the number of Kwon’s victims given the sheer volume of Terraform cryptocurrency transactions and the manner in which those transactions were conducted (many of which were conducted on foreign exchanges, through digital asset wallets or cryptocurrency trading accounts, without personally identifiable information), the government estimates that the number of victims in this case exceeds hundreds of thousands of individuals and entities and may total more than one million,” Gitner said.
According to previous news , Kwon is expected to appear in court again on January 8 to respond to the lawsuit.
