DoKwon

Terraform Labs co-founder Do Kwon has suffered another legal defeat. A Singapore court has rejected his bid to recover the $14.2 million deposit he paid for a luxury penthouse on Orchard Road.

Dream of a Luxury Home Shattered
According to court documents, the deposit represented half of the $28.4 million required to purchase a 7,600-square-foot duplex with four bedrooms. The property, valued at S$38.8 million, was secured through Kwon’s wife just five months before the Terra-Luna ecosystem collapsed in 2022.
After he failed to complete the deal, the contract was terminated and the penthouse was later resold to another buyer for S$34.5 million. Judge Philip Jeyaretnam ruled that the developer was entitled to retain the deposit, striking down Kwon’s attempt to reclaim it.

Leasing, Renovations, and Legal Disputes
The Kwon family signed a 16-month lease for the apartment from February 2022 to June 2023, paying S$40,000 per month. They paid S$640,000 upfront and even carried out renovations. In May 2023, Kwon tried to exercise the purchase option through his wife, but the transaction was not completed. By June, both the lease and the option had expired.
The court rejected the developer’s S$90,000 claim for alleged repairs but awarded an additional month’s rent. Do Kwon was also ordered to cover the developer’s legal costs.

Another Blow After Terra-Luna Collapse
This verdict adds to Kwon’s mounting legal woes following the collapse of the Terra-Luna ecosystem, which wiped out over $40 billion in investor funds. In August 2025, he pleaded guilty in the United States to conspiracy and wire fraud, agreeing to forfeit $19.3 million and several properties.
His sentencing is scheduled for December 11. Meanwhile, in Singapore, he faces lawsuits from 366 investors seeking between $66 million and $90 million. The case mirrors that of FTX founder Sam Bankman-Fried, who was sentenced to 25 years in prison for multiple fraud schemes.

#DoKwon , #TerraformLabs , #CryptoScandal , #LUNA , #CryptoNews

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Terraform Labs co-founder Do Kwon just suffered another major legal defeat.
A Singapore court has ruled that the $14.2M deposit he paid for a luxury Orchard Road penthouse is gone for good.
🏠 Dream Shattered
The $14.2M represented half of the $28.4M purchase price for a 7,600 sq. ft duplex.
The deal collapsed after the Terra-LUNA crash in 2022, and the property was later resold for S$34.5M.
Judge ruled the developer can keep the deposit, rejecting Kwon’s claim.
📉 Lease, Renovations & Disputes
Kwon’s family leased the penthouse from Feb 2022 to June 2023 at S$40,000/month.
Paid S$640K upfront + renovation costs.
Tried to complete the purchase in May 2023, but failed.
Court awarded extra rent to the developer + legal costs against Kwon.
⚖️ Another Legal Blow
Follows the $40B Terra-LUNA collapse.
In the U.S., Kwon pleaded guilty to conspiracy & wire fraud, agreeing to forfeit $19.3M + properties.
Sentencing set for Dec 11, 2025.
In Singapore, he faces lawsuits from 366 investors seeking up to $90M.
📌 Big Picture
Kwon’s case mirrors that of Sam Bankman-Fried (FTX), already sentenced to 25 years.
This ruling adds more weight to his mounting financial and legal troubles.
👉 Stay tuned here on Binance Square for the latest on crypto scandals, market movers & legal battles shaking the industry.
#DoKwon #LUNA #CryptoNews #BinanceSquare
⚠️ Disclaimer: This post is for educational purposes only. Not financial advice.

1. ¿Qué sucedió?

Do Kwon, cofundador de Terraform Labs y una de las figuras más polémicas del ecosistema cripto, se declaró culpable de fraude en una corte federal de Manhattan, Estados Unidos. La decisión llega tras meses de procesos judiciales relacionados con el colapso de TerraUSD (UST) y Luna (LUNA), uno de los eventos más devastadores en la historia del mercado cripto.

2. Las consecuencias legales

Según los reportes, Kwon aceptó:

Hasta 12 años de prisión como posible sentencia.

La devolución de 19 millones de dólares en ganancias ilícitas derivadas de la manipulación del ecosistema Terra.

Reconocimiento de su responsabilidad en el engaño a miles de inversores que confiaron en la promesa de una stablecoin algorítmica estable.

El acuerdo de culpabilidad busca cerrar un capítulo que marcó un antes y un después en la percepción global sobre los riesgos de proyectos mal gestionados o fraudulentos en la industria.

3. Impacto en el ecosistema cripto

El colapso de UST y LUNA en 2022 generó pérdidas superiores a los 40 mil millones de dólares en cuestión de días, arrastrando a múltiples proyectos, exchanges y fondos de inversión. Este evento desencadenó:

Una ola regulatoria global, con mayor presión sobre las stablecoins.

Un aumento en las investigaciones contra proyectos DeFi con estructuras poco transparentes.

Una pérdida de confianza significativa por parte de los inversores minoristas.

La declaración de culpabilidad de Kwon refuerza la narrativa de que los organismos judiciales internacionales están aumentando su escrutinio sobre el mundo cripto.

4. Reacciones de la industria

Inversores afectados han visto la admisión de culpabilidad como una forma de justicia, aunque las pérdidas sufridas difícilmente se recuperen.

Reguladores apuntan a este caso como un ejemplo de por qué es necesaria una supervisión más estricta en proyectos de gran escala.

Comunidad cripto mantiene un debate abierto: ¿fue Kwon un simple irresponsable o un arquitecto deliberado de un fraude masivo?

5. Conclusión

La caída de TerraUSD y Luna es, sin duda, uno de los episodios más oscuros en la historia de las criptomonedas. La declaración de culpabilidad de Do Kwon no solo marca un cierre judicial, sino también una advertencia contundente: la innovación sin responsabilidad puede tener consecuencias catastróficas.

El futuro de las stablecoins dependerá, en gran medida, de la capacidad del sector para reconstruir la confianza y establecer mecanismos de transparencia que eviten repetir tragedias como la de Terra.



#DoKwon #TerraformLabs #LUNA #UST #TerraCollapse #CryptoNews #BinanceNews #Stablecoins #CryptoRegulation #SeguridadCrypto

Falló en contra de Do Kwon: Un tribunal en Singapur rechazó el reclamo de Do Kwon para recuperar el depósito de USD 14.2 millones que pagó por un penthouse lujoso ubicado en Orchard Road. Según la corte, el depósito fue legalmente retenido por el desarrollador tras su incapacidad para completar la compra dentro del plazo acordado.

Detalle clave:
Kwon había pagado la mitad del precio (aproximadamente S$19.4 millones) como depósito y cuotas de opción de compra, pero no cumplió con la finalización de la compra.
Como resultado, el desarrollador legalmente se reservó el depósito y vendió la propiedad a otro comprador.
El tribunal desestimó las apelaciones posteriores de Kwon y negó el reembolso. También le ordenó cubrir los costos legales.
Contexto más amplio: Este fallo se suma a las múltiples dificultades legales que enfrenta Kwon. Esto incluye su culpabilidad ante tribunales de EE.UU. por fraude en el colapso de Terra/Luna, y su extradición tras un periodo prófugo.
#DoKwon
Implicaciones y contexto
Suma simbólica y reputacional: Aunque los USD 14.2 millones son una parte menor en comparación con otras pérdidas, el fallo subraya que incluso sus activos personales están siendo afectados por decisiones judiciales firmes.
Ataque a su credibilidad: Además del desplome del ecosistema Terra, la negativa a recuperar este depósito agrega presión financiera y fortalece la percepción de que Kwon está perdiendo apoyo en múltiples frentes.
Secuencia de consecuencias legales: Este fallo llega mientras Kwon encara futuras audiencias de sentencia en EE.UU., donde enfrenta hasta 25 años de prisión—aunque los fiscales han acordado no pedir más de 12, si coopera y cumple con los términos del acuerdo.

#DoKwonUnderFire
Un tribunal en Singapur negó la devolución del depósito de Kwon, agregando otro revés legal a su situación actual.
El fallo refuerza la presión sobre su patrimonio mientras sus cargos y condenas penales se afinan en tribunales internacionales.

Do Kwon, co-founder of Terraform Labs, has been released from prison in Montenegro while the extradition proceedings regarding his request to be extradited to the USA and South Korea are still ongoing, according to a report by Bloomberg citing officials from the prison system.
Doubts Surrounding Kwon's Extradition Decision:
His recent decision to be extradited to South Korea has been challenged by the top prosecutor of Montenegro. Recently, it has come to light that the highest prosecutor's office in Montenegro has transferred this case for review to the Supreme Court, citing irregularities.
Arrest of Do Kwon and the Collapse of the Terra Project:
Do Kwon was arrested in Montenegro in March 2023 when he was caught with a fake Costa Rican passport while attempting to travel to Dubai in the United Arab Emirates. Kwon was the architect of the failed crypto project TerraUSD stablecoin, which experienced a collapse along with LUNA, another token from the Terra project.
Extradition Decision and Investigation:
Both the USA and South Korea have requested Kwon's extradition, but the Minister of Justice of Montenegro favors extradition to South Korea. This decision has been contested by the top prosecutor of Montenegro. South Korean authorities are now actively seeking to prosecute Do Kwon for his alleged frauds and tax evasion.
Do Kwon has denied the accusations, claiming that the $40 billion collapse of the Terra ecosystem was a result of market forces and does not indicate any criminal activity.
#dokwon #terraformLabs

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

* Freshly extradited from Montenegro, Terraform Labs co-founder Do Kwon pleaded not guilty to U.S. criminal charges over Terra's collapse.
Alleged crypto crook Do Kwon pleaded pleaded not guilty in a New York court Thursday to U.S. criminal charges over the 2022 collapse of the Terra crypto ecosystem, following his extradition earlier this week from Montenegro.
Feds hit the 33-year-old disgraced tech entrepreneur with nine criminal counts, including securities fraud, wire fraud, commodities fraud, and conspiracy to commit money laundering. He agreed Thursday to be held without bail before U.S. Magistrate Judge Robert Lehrburger, Inner City Press reported.
Kwon founded Terra, a once-sizable crypto ecosystem with apps built around the LUNA token and the TerraUSD (UST) algorithmic stablecoin. The project was popular with investors, and rapidly grew to become the second-biggest blockchain in the sphere after Ethereum by early 2022.
[Do Kwon is flipping through the superseding indictment - then tutns to his second lawyer]
Judge: How do you plead?
Not guilty [through counsel Chesley who adds, We consent to detention without prejudice
Its native cryptocurrency, LUNA, was in its prime as one of the top digital assets by market cap. Kwon made a lot of money, very quickly, and even mocked "poor" people on X (formerly known as Twitter).
But Terra collapsed in May 2022, taking $40 billion of investors' money with it. The crash led to a brutal bear market, as many crypto projects with exposure to the project later declared bankruptcy.
The project's main product, the UST stablecoin, couldn't keep its stable peg to the dollar, resulting in the entire ecosystem collapsing and losing nearly all of its value in a matter of days.
Authorities in both the U.S. and South Korea now allege that the entrepreneur was a scammer who conned investors into buying his cryptocurrency.
Behind the scenes, core Terraform products did not work as Kwon advertised, and were manipulated to create the illusion of a functioning and decentralized financial system in order to lure investors," Thursday's indictment reads.
Kwon was arrested in Montenegro last year for allegedly attempting to travel on a fake passport. His lawyers kept him in the country until Tuesday, when he was finally extradited to the United States.
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