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Do Kwon Sentenced to 15 Years in Terraform Labs Fraud Case

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Do Kwon, founder of Terraform Labs, was sentenced to 15 years in prison for his role in the $40 billion collapse of the Terra ecosystem in May 2022. The U.S. judge called the fraud “unusually serious,” citing Kwon’s misleading assurances to investors. Kwon pleaded guilty in August. The ecosystem’s collapse led to massive losses, with one investor losing nearly $200,000 from the Anchor Protocol. The incident triggered broader industry instability, including FTX’s later bankruptcy.
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