Crypto King Do Kwon Pleads Guilty to Fraud | JQJO

Do Kwon, the founder of Terraform Labs, pleaded guilty in a New York court to two counts of fraud related to the collapse of TerraUSD and Luna cryptocurrencies in 2022. This collapse cost investors over $40 billion. As part of a plea deal, prosecutors will not seek a sentence exceeding 12 years, though the judge could impose a sentence up to 25 years. Kwon, who initially fled South Korea, admitted to making false statements about the stablecoin's value and faces further charges in South Korea.