Source: Bitcoin.com
“A U.S. federal court in New York issued a 15-year prison sentence to Terraform Labs co-founder Do Kwon, marking one of the most significant criminal judgments tied to a crypto collapse. Kwon pleaded guilty in August to fraud and conspiracy charges stemming from the implosion of terrausd (UST) and luna (LUNA now LUNC), which erased an estimated $40 billion in market value in 2022. Prosecutors described the misconduct as fraud ‘on an epic, generational scale,’ highlighting evidence that investors were misled prior to the platform’s downfall. During the sentencing hearing, victims detailed steep financial losses, including wiped-out retirement funds. As part of his plea agreement, Kwon will forfeit more than $19 million in proceeds determined to be linked to the scheme.” (12/11/25)
https://news.bitcoin.com/us-court-hands-down-15-year-sentence-to-terraform-labs-do-kwon/