Federal prosecutors have requested a 12-year prison term for Do Kwon, co-founder of Terraform Labs, due to his role in orchestrating the massive fraud that led to TerraUSD’s devastating $40 billion crash in 2022. Kwon pleaded guilty to conspiracy and wire fraud, admitting to deceptive practices that triggered widespread turmoil across crypto markets, including indirectly impacting the FTX collapse. As sentencing approaches on December 11, his defense highlights harsh detention conditions and ongoing legal battles in South Korea, while experts expect a substantial sentence given the scale of harm caused.
Continue to read Do Kwon Faces Potential 12-Year Sentence for TerraUSD $40 Billion Collapse
Federal prosecutors have requested a 12-year prison term for Do Kwon, co-founder of Terraform Labs, due to his role in orchestrating the massive fraud that led to TerraUSD’s devastating $40 billion crash in 2022. Kwon pleaded guilty to conspiracy and wire fraud, admitting to deceptive practices that triggered widespread turmoil across crypto markets, including indirectly impacting the FTX collapse. As sentencing approaches on December 11, his defense highlights harsh detention conditions and ongoing legal battles in South Korea, while experts expect a substantial sentence given the scale of harm caused.
Continue to read Do Kwon Faces Potential 12-Year Sentence for TerraUSD $40 Billion Collapse
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