Wu learned that Do Kwon, co-founder of Terraform Labs, has been extradited from Montenegro to the United States and will appear in the Manhattan Federal Court for the first time on December 31, 2024, facing nine federal charges, including commodity fraud, securities fraud, telecommunications fraud, and conspiracy to commit money laundering. The maximum cumulative sentence could be up to 130 years imprisonment. The core crimes alleged in the indictment include false advertising of Terra's stability, manipulation of Luna Foundation Guard (LFG), control of Mirror protocol, falsification of Chai's usage of Terra, and abuse of Genesis Coins. The indictment alleges that Do Kwon artificially inflated the value of UST and LUNA through false statements and market manipulation, resulting in losses exceeding 400.