#dokwon

A U.S. federal court has sentenced Do Kwon, founder of Terraform Labs, to 15 years in prison for fraud related to the collapse of the Terra (LUNA) ecosystem. Judge Paul Engelmayer cited systematic deception of investors, including misleading claims about the stability of TerraUSD (UST) and promises of nearly 20% annual returns through the Anchor protocol.

The sentence exceeds the prosecution’s request and includes a $19 million fine and asset forfeiture. Investor losses from the Terra collapse in May 2022 are estimated to exceed $40 billion, making it one of the most severe failures in crypto history.

He has been extradited to the United States.

Terra co-founder Do Kwon, the man who arguably started the crypto collapse last year who was definitely not on the lam, was finally arrested Thursday. Now there are multiple countries, including Montenegro, South Korea, and the U.S. who are calling dibs on the failed crypto founder, making him a far more desirable… Read more…

On the Lam Terra Founder Do Kwon Reportedly Traced to Serbia

The once-famed and now notorious crypto founder Do Kwon’s “totally unprompted” world tour now has him holed up in Serbia, according to reports citing the South Korean prosecutor’s office tasked with arresting the 31-year-old. Read more…

Martin Shkreli Tells Do Kwon ‘Jail’s Not That Bad’

If you find yourself listening to free advice from notorious fraudster and pharmaceutical price-gouger, Martin Shkreli, then it might be time to re-evaluate some things. And that’s exactly the scenario Do Kwon, Terra’s disgraced CEO and “not on the run” fugitive, ended up in on a Tuesday podcast stream. Read more…