Terra’s Fall Comes Full Circle: Do Kwon Hit With 15-Year Prison Term in US Court
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Do Kwon, the controversial founder of Terraform Labs and the architect behind the failed TerraUSD and Luna crypto assets, received a 15-year federal prison sentence on Thursday.
US District Judge Paul A. Engelmayer, delivering the sentence in a Manhattan courtroom, described the misconduct as an “epic fraud.” Kwon, now 34, had earlier admitted to deceiving investors about the stability mechanisms of TerraUSD, a token marketed as a safeguard during periods of market turmoil.
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Terra’s Fall Comes Full Circle: Do Kwon Hit With 15-Year Prison Term in US Court
Share:
Do Kwon, the controversial founder of Terraform Labs and the architect behind the failed TerraUSD and Luna crypto assets, received a 15-year federal prison sentence on Thursday.
US District Judge Paul A. Engelmayer, delivering the sentence in a Manhattan courtroom, described the misconduct as an “epic fraud.” Kwon, now 34, had earlier admitted to deceiving investors about the stability mechanisms of TerraUSD, a token marketed as a safeguard during periods of market turmoil.
Read More
Bitcoin (BTC) Collapses to $85K, Aster (ASTER) Crashes by 12%: Market Watch