🚨 Do Kwon Sentenced to 15 Years for Terra-Luna Fraud
Terraform Labs founder, Do Kwon, has been sentenced to 15 years in prison by a U.S. judge in New York for his role in the 2022 Terra-Luna token collapse, which wiped out an estimated $40 billion in investor funds. The judge imposed a heavier sentence than requested by prosecutors, citing the "epic, generational scale" of the fraud and the extensive financial and human harm caused. Kwon had pleaded guilty to fraud and conspiracy charges and was rebuked for repeatedly choosing to lie and engage in misconduct regarding the stability of the TerraUSD stablecoin.
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