Crypto Mogul Do Kwon Pleads Guilty to $40 Billion Fraud in TerraUSD Collapse
TL;DR Summary
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.
- TerraUSD: 'Cryptocrash king' Do Kwon pleads guilty to fraud BBC
- Crypto Entrepreneur Who Caused 2022 Market Crash Pleads Guilty to Fraud The New York Times
- Do Kwon Pleads Guilty to Fraud Over $40 Billion Terra Collapse Bloomberg.com
- Do Kwon to plead guilty to US conspiracy, fraud charges in $40 billion crypto collapse Reuters
- Crypto mogul Do Kwon pleads guilty to fraud for $40bn market collapse The Guardian
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