TerraUSD creator Do Kwon receives 15-year prison sentence for $40 billion crypto collapse

bbc.com

TerraUSD creator Do Kwon has been sentenced to 15 years in prison for defrauding investors in a $40 billion cryptocurrency collapse. Kwon, co-founder of Terraform Labs, pleaded guilty to conspiracy to defraud and wire fraud, admitting to misleading investors about the stablecoin TerraUSD and its related token Luna. The collapse of TerraUSD and Luna in 2022 triggered failures in the crypto market, with the judge calling Kwon's fraud "epic" and of "generational scale."


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