DO Kwon Gets 15 YEARS! The Crypto World Just Got SHAKEN 🚨
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This is it. Do Kwon, the architect of the Terra/LUNA implosion, is headed to federal prison for 15 years. Judge Engelmayer handed down the maximum possible sentence, sending a clear message. Kwon’s plea deal wasn't enough to escape the harsh reality of his actions.
He's facing over $19 million in forfeiture, an $80 million civil fine, and a lifetime ban from the crypto industry as part of a massive $4.55 billion SEC settlement. Remember, the Terra/LUNA collapse wiped out more than FTX and OneCoin combined. 🤯
The fraud involved secretly manipulating UST's price back in 2021. Victim impact statements painted a grim picture of financial devastation. While $LUNC and $LUNA took a massive hit (-32% and -36% respectively) post-sentencing, these tokens had seen a wild +250% pump in the lead-up.
Kwon's plea to serve time in South Korea was denied. He'll serve his time in the U.S. and might be considered for transfer abroad only after completing half his sentence. This ruling is a watershed moment for crypto regulation.
This sentence is a stark reminder of the consequences of crypto fraud.
#DoKwon #TerraLUNA #CryptoNews #SEC #Blockchain ⚖️
