US EditionCrypto mogul Do Kwon to be sentenced for misleading investors who lost billions in stablecoin crash
Do Kwon pleaded guilty to fraud causing $40 billion loss, with prosecutors urging a 12-year sentence to reflect the scale and deter similar crypto crimes.
- Do Kwon was sentenced to 15 years in prison for misleading investors during the collapse of Terraform Labs' crypto ecosystem in 2022, which erased $40 billion in market value.
- Kwon pleaded guilty to fraud charges in August, admitting responsibility for the financial disaster that impacted investors globally.
- Prosecutors claimed that Kwon's fraud significantly affected many aspects of Terraform's business, causing widespread financial destruction.
- In a letter to the judge, Kwon expressed deep regret, stating, 'I alone am responsible for everyone's pain,' acknowledging his role in misleading the community.
13 Articles
13 Articles
Crypto mogul Do Kwon to be sentenced for misleading investors who lost billions in stablecoin crash - The Boston Globe
Kwon, known by some as “the cryptocurrency king,” pleaded guilty in Manhattan federal court in August to fraud charges stemming from Terraform Labs’ $40 billion crash.
A saga comes to an end. Do Kwon, the face behind the billion-dollar fraud of Terra (LUNA), has to go to prison for 15 years. Source: BTC-ECHO BTC-ECHO
Do Kwon Sentenced to 15 Years in U.S. Prison for $40 Billion Terra Fraud News ETHNews
Terraform Labs co-founder Do Kwon has been sentenced to 15 years in federal prison, marking one of the most consequential criminal outcomes in the history of digital assets. The sentence, delivered by U.S. District Judge Paul Engelmeyer in New York, follows Kwon’s guilty plea for fraud and conspiracy tied to the collapse of TerraUSD (UST) and Luna, an event that erased roughly $40 billion in market value in May 2022. The Sentence and Plea Deal P…
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