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PC Gamer

Jacob Ridley

Crypto boss sentenced to 15 years over 'epic, generational scale' fraud that lost over 40 billion dollars

Do Kwon TerraUSD LUNA United States South Korea Terraform Terraform Labs

PODGORICA, MONTENEGRO - MARCH 23: Police officers escort Do Kwon after he served sentence in prison for document forgery on March 23, 2024 in Podgorica, Montenegro. .

Cryptocurrency Terraform Labs co-founder, Do Kwon, has been sentenced to 15 years in prison by a district judge in New York. The cryptocurrency boss oversaw the collapse of TerraUSD and Luna in 2022, which the judge described as "fraud on an epic, generational scale."

"In the history of federal prosecutions," US district judge Paul A. Engelmayer said during the sentencing (via CNBC), "there are few frauds that have caused as much harm as you have, Mr. Kwon."

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