⭐ Do Kwon, co-founder of Terraform Labs, was sentenced to 15 years in prison on December 11, 2025, in New York federal court for orchestrating a massive fraud that propped up the TerraUSD stablecoin with misleading claims and secret cash injections.
- The 2022 collapse of TerraUSD and its sister token Luna erased around $40 billion from the crypto market in mere days, sparking a chain of failures including the FTX implosion and leaving up to a million victims—many sharing heartbreaking stories of lost life savings and shattered families during the sentencing hearing.
- Judge Paul Engelmayer called the scheme an "epic fraud of generational scale," exceeding the 12 years sought by prosecutors but capping Kwon's potential 135-year exposure after his August guilty plea to conspiracy and wire fraud charges.
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