Luna
Do Kwon, co‑founder of Terraform Labs, was sentenced to 15 years in prison on Dec. 11, 2025 after admitting in August to conspiracy and wire fraud. The ruling is a major legal outcome tied to the collapse of the Terra ecosystem and affects holders of LUNA and LUNC.
Terra (LUNA) climbed roughly 55% on Dec. 11, 2025, emerging as one of the day's top-performing cryptocurrencies as traders cited renewed demand and market momentum.
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, the South Korean crypto entrepreneur behind Terraform Labs, has pleaded guilty to fraud charges linked to the $40 billion collapse of TerraUSD and Luna. He faces up to 12 years in prison and significant asset forfeiture, marking a major moment in crypto fraud accountability.
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.