Do Kwon Sentenced for $40B Crypto Fraud
Update: 2025-12-12
Description
Former crypto mogul Do Kwon sentenced to fifteen years for $40 billion fraud, causing losses for millions of victims. Kwon, co-founder of Terraform Labs, pleaded guilty to fraud charges related to the collapse of TerraUSD, a stablecoin he promoted as reliable but was backed by external cash infusions. Kwon fled to the Balkans after the schemes collapse, was arrested in Montenegro, and will receive credit for seventeen months in jail.
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