Here’s a rewritten version, same length & punch, fresh wording:
This man erased $40 billion from crypto and said it didn’t affect him.
He believed he was untouchable.
Name: Do Kwon
Period: 2021–2022
He ran Terra/Luna, once a $60B crypto empire.
He assured investors the stablecoin was secure.
He mocked critics as “too broke” to understand.
He claimed he lived simply.
Behind the scenes:
→ He misrepresented how UST held its $1 peg
→ He ridiculed economists who warned the model would collapse
→ He joked about enjoying watching companies fail — just days before Luna imploded
All while operating a financial casino.
May 2022: $LUNA
crashed from $80 to $0.0001 in 48 hours.
The peg snapped. Chaos followed.
$40 BILLION vanished.
Afterward he said: “This doesn’t bother me. I live a frugal life.”
The court said: “This was fraud carried out with arrogance and complete disregard for victims.”
He escaped to Montenegro using a fake passport.
2023: Arrested.
Dec 2025: Sentenced to 15 years in U.S. prison (still facing 30+ years in South Korea).
You can preach frugality.
You can insult the poor.
But when $40 billion disappears…
the internet never forgets.
Were you holding LUNA in May 2022?