Do Kwon Terraform Labs Sentenced: 15 Years Prison for LUNA & UST Crypto Fraud

Do Kwon, the co-founder of Terraform Labs, has been sentenced to 15 years in prison. The sentencing follows his conviction on multiple fraud charges related to the catastrophic collapse of the Terra ecosystem, which included the LUNA token and the algorithmic stablecoin TerraUSD (UST). The court found Kwon guilty of orchestrating a multi-billion dollar crypto fraud that misled investors about the stability and viability of the projects. This landmark case represents one of the most significant legal actions against a major figure in the cryptocurrency industry. The collapse in May 2022 erased tens of billions in market value, triggering a prolonged "crypto winter" and leading to increased regulatory scrutiny worldwide. Legal proceedings are also ongoing in other jurisdictions, including the United States.