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Crypto Mogul Do Kwon Pleads Guilty to $40 Billion Fraud in TerraUSD Collapse

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Source: BBC
Crypto Mogul Do Kwon Pleads Guilty to $40 Billion Fraud in TerraUSD Collapse
Photo: BBC
TL;DR

Do Kwon, former CEO of Terraform Labs, pleaded guilty to fraud charges related to the collapse of TerraUSD and Luna cryptocurrencies in 2022, which caused over $40 billion in investor losses. He admitted to making false statements and orchestrating schemes to artificially maintain the stablecoin’s value, leading to a plea deal that limits his potential sentence to 12 years, though he still faces additional charges in South Korea.

Topics:top-newsbusiness#business#crypto-crash#cryptocurrency#fraud#kwon#terrausd
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  1. TerraUSD: 'Cryptocrash king' Do Kwon pleads guilty to fraud  BBC
  2. Crypto Entrepreneur Who Caused 2022 Market Crash Pleads Guilty to Fraud  The New York Times
  3. Do Kwon Pleads Guilty to Fraud Over $40 Billion Terra Collapse  Bloomberg.com
  4. Do Kwon to plead guilty to US conspiracy, fraud charges in $40 billion crypto collapse  Reuters
  5. Crypto mogul Do Kwon pleads guilty to fraud for $40bn market collapse  The Guardian

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