Crypto Exec Sentenced for $19B Scam
Update: 2025-12-12
Description
Do Kwon, former cryptocurrency executive, sentenced to 15 years for fraud, causing billions in losses. His companys crypto ecosystem collapsed in 2022, promoting TerraUSD as a stablecoin, which was an illusion. Victims shared stories of lost life savings, college funds, and charity money. Kwon fled to Serbia and Montenegro before being extradited to the U.S., agreeing to give up $19 million. This case underscores the risks and potential for fraud in the unregulated cryptocurrency market.
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