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International Business Times UK

Niloy Chakrabarti

TerraUSD, Luna Founder Do Kwon, Who Caused the Epic $40B Crypto Crash in 2022, Jailed for 15 Years

Do Kwon LUNA TerraUSD United States Crypto Paul Engelmayer Cryptocurrency Terraform Labs Prison

Kwon was extradited to the US after being arrested while attempting to board a flight from Serbia to Dubai using a fake passport. (Credit: Tima Miroshnichenko/Pexels)

The founder of TerraUSD and Luna cryptocurrencies, Do Kwon, was sentenced to 15 years in prison earlier this month. He was charged with fraud and eventually pleaded guilty.

TerraUSD and Luna lost all their value overnight, triggering a $40 billion (£29.7 billion) crash that led to the collapse of the cryptocurrency industry and major firms in 2022.

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