Do Kwon was sentenced to 15 years in prison for the collapse of Terra worth 40 billion USD
The US court on December 10 sentenced Do Kwon, the founder of Terraform Labs, to 15 years in prison for fraud related to the collapse of the stablecoin TerraUSD in 2022, causing losses of 40 billion USD for investors, according to CoinDesk and Reuters. Kwon was accused of manipulating the market and concealing risks, with victims testifying about significant financial losses. This is the harshest sentence in crypto history, highlighting the SEC's efforts against fraud. The case may drive tighter regulations, affecting trust in DeFi projects. Terraform Labs must compensate 4.5 billion USD.
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