🚨 🔥 Attention traders 🔥

In 2022, the South Korean entrepreneur behind two cryptocurrencies that lost about US$ 40 billion in 2022 and caused the market implosion, pleaded guilty on Tuesday to two charges in the U.S. of conspiracy to commit fraud and electronic fraud.

Kwon, 33, who co-founded Terraform Labs, based in Singapore, and developed the coins TerraUSD and Luna, made the statement at a federal court hearing in New York. He had pleaded not guilty in January to a nine-count indictment that accused him of securities fraud, electronic fraud, commodities fraud, and conspiracy to commit money laundering.

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