Do Kwon Sentenced to 15 Years in Prison for $40 billion Terra-Luna Crash
2025-12-11 22:28:16
Do Kwon, founder of Terraform Labs, has been sentenced to 15 years in prison by the Southern District of New York for the 2022 Terra-Luna crash that wiped $40 billion off the dollar. The sentence is higher than the 12 years prosecutors had previously proposed. Prosecutors accused Kwon of repeatedly misleading investors and concealing serious institutional flaws between the algorithmic stablecoins TerraUSD and Luna, triggering a chain of thunderstorms in the crypto industry. The judge told the court that Kwon "chose to lie" and "made the wrong choice".
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