🚨 Do Kwon pleads guilty after the Terra-Luna collapse and faces prison – Community reactions 🚨
✅ Guilty plea
Do Kwon, founder of Terraform Labs, responsible for the collapse of TerraUSD and Luna worth $40 billion in 2022, pleaded guilty to:
Conspiracy to commit fraud in commodities and securities.
Wire Fraud.
Kwon stated in court: "What I did was wrong and I take full responsibility."
✅ Legal details
Maximum sentence: 25 years in prison.
Prosecution seeks a maximum of 12 years.
Over $19 million of his proceeds have been seized, including his stake in Terraform and its associated cryptocurrencies.
Possibility of serving the sentence in South Korea through an international prisoner transfer program if he meets the agreement's conditions.
His arrest was in Europe in March 2023 while traveling on a fake passport, and he will be extradited to the United States in December 2024.
Sentencing is scheduled for December 11, 2025, and the sentence may exceed the recommended maximum.
✅ Community reactions
Some users expressed relief and considered it long-awaited justice.
Others called for a harsher penalty, believing that 12 years is less than the justice needed.
A third group sees the collapse as a result of an attack on the blockchain and not a personal crime, describing Kwon as a failure but not a criminal.
💬 Do you think 12 years in prison is enough for Do Kwon, or should the penalty be harsher?