Do Kwon
Terraform Labs co-founder Do Kwon told U.S. authorities he believes a five-year prison term is an appropriate punishment for the Terra cryptocurrency fraud. The statement touches a high-profile case tied to the collapse of LUNA and LUNC.
Do Kwon, known as the cryptocurrency king, admitted guilt in a Manhattan federal court for fraud related to the $40 billion Terraform Labs collapse, impacting global investors.
Do Kwon, the creator of TerraUSD and Luna, pleaded guilty to fraud charges related to the $40 billion crypto collapse. He admitted misleading investors and faces up to 12 years in prison under a plea deal. The case highlights ongoing risks in cryptocurrency markets and the importance of transparency.
Do Kwon, founder of Terraform Labs, admits guilt in major U.S. charges linked to the 2022 TerraUSD and Luna crypto crash, facing conspiracy and fraud allegations.
Do Kwon, co-founder of Terraform Labs, is set to plead guilty to U.S. fraud charges tied to the 2022 collapse of TerraUSD and Luna, which led to $40 billion in losses. The hearing will take place in Manhattan federal court.