Terraform Labs Co-Founder Do Kwon Sentenced to 15 Years in Prison Over TerraUSD’s $40 Billion Collapse

Terraform Labs co-founder Do Kwon, a South Korean national, was sentenced to 15 years in prison by US District Judge Paul A. Engelmayer in Manhattan for his role in the TerraUSD collapse that wiped out around $40 billion in 2022. Kwon pleaded guilty in August to conspiracy and wire fraud charges linked to misleading investors about the stablecoin’s peg and support mechanisms.