Crypto Fraud

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, 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.

Veer Chetal, aged 19, has admitted guilt in a massive $245 million bitcoin theft scheme involving social engineering scams. Coordinating with co-defendants, he stole thousands of bitcoins and is now cooperating with federal investigators amid a broader $260 million crypto theft racketeering case.

Alex Mashinsky, founder of the bankrupt crypto firm Celsius, was sentenced to 12 years in prison after pleading guilty to fraud charges linked to the company's downfall.