Terra Luna Founder Do Kwon has been sentenced to 15 Years in Prison over the sudden collapse of the TerraUSD (UST) market.
BrandNewsDay reports that the United States has officially sentenced Terraform Labs founder Do Kwon to 15 years in federal prison over the historic collapse of TerraUSD (UST) and LUNA, a disaster that wiped out an estimated $40bn in market value and triggered a global crypto meltdown.
Court documents show that Kwon pleaded guilty earlier this year to fraud-related charges after prosecutors revealed he misled investors about the stability of $UST and secretly propped up the token’s price using hidden trading support.
The judge condemned the scheme as one of the most damaging in #crypto history, noting billions in losses and life-changing financial harm suffered by victims worldwide.
Do Kwon was also ordered to forfeit over $19M, with potential additional actions still pending in South Korea.
This sentencing marks a major milestone in crypto regulation, sending a clear message that accountability in the blockchain space is no longer optional.
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