Do Kwon Pleads Guilty to US Fraud Charges in $40 Billion Crypto Collapse
Do Kwon, the South Korean crypto entrepreneur behind the collapse of TerraUSD and Luna, pleaded guilty to conspiracy to defraud and wire fraud in the US, facing up to 25 years in prison for misleading investors and artificially inflating the value of his digital currencies, which resulted in an estimated $40 billion loss in 2022.