#fraud

Massive $40B Crypto Fraud Uncovered! 😱

Terraform Labs co-founder Do Kwon pleaded guilty in Manhattan federal court to misleading investors about TerraUSD’s stability.

The 33-year-old admitted to lying about the stablecoin’s recovery in 2021, falsely crediting an algorithm while secretly propping it up with millions from a trading firm. 💸

The collapse in 2022 wiped out billions, marking one of history’s largest frauds. Kwon faces up to 25 years in prison, with sentencing set for Dec 11. ⚖️