❗️The founder of Terra Luna Do Kwon was sentenced to 15 years in prison
Do Kwon is the creator of the blockchain project Terra and the stablecoin $UST
He was once a real star of the crypto market: UST was in the top-10 coins, and the ecosystem #Terra was valued at tens of billions of dollars 💰
But in 2022, UST "depegged" from the dollar and collapsed, dragging down #LUNA
In just a few days, over $40 billion was wiped out, causing a chain reaction of bankruptcies in the industry 💥
Do Kwon was accused of:
• fraud with investors 🕳️
• market manipulation 📉
• concealing risks of UST ⚠️
• forging documents in an attempt to flee the country 🛂
LUNA
0.1822
+0.60%
LUNC
0.00004605
-14.02%
