💥 Do Kwon guilty of crypto fraud
The co-founder of Terraform Labs, Do Kwon, pleaded guilty in a New York court to fraud related to the collapse of TerraUSD (UST) and Luna, which in 2022 caused losses of over $40 billion.
🏛 In his agreement with the prosecution, he agreed to forfeit over $19 million in assets and could face up to 12 years in prison. Sentencing is scheduled for December 11, 2025.
📉 This case is considered one of the largest frauds in the history of cryptocurrencies and sets a precedent in the regulation of the sector.
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