The criminal trial of Terraform Labs founder Do Kwon appears set for early 2026, with US Attorney Jared Leno anticipating roadblocks in gathering evidence.

District Judge Paul Engelmayer of the Southern District of New York called the scheduling "unprecedented" in his 15 years on the bench.

Central to the long discovery period is a large volume of data to sift through, according to lead prosecutor Leno, who cited six terabytes of material. Prosecutors also anticipate a delay in translating Kwon's messages from Korean to English. In addition, government investigators have not yet unlocked four of Kwon's encrypted devices.

To Kwon Submitted A not guilty plea last week denies nine charges, including securities fraud and money laundering conspiracies linked to the $60 billion collapse of Terra/Luna in 2022. Federal prosecutors estimate that more than 1 million investors were affected by the failure of the Terra/Luna ecosystem.

A New York jury also found Kwon and Terraform Labs guilty in a civil fraud suit brought by the U.S. Securities and Exchange Commission. The court commander That Terraform must wind down its business and pay $4.5 billion in fines.

Kwon financed $200 million from his own pockets while the United States financed it Extradition From Montenegro, where he spent 22 months in detention.

Judge Engelmayer gave Kwon's defense, led by attorney Michael Ferrara of Hecker Fink LLP, one week. to request Pretrial date. The next hearing is scheduled for March 6.