Terraform Labs Founder Do Kwon Pleads Guilty To Fraud In $60B Terra/Luna Collapse
Posted On August 12, 2025
Terraform Labs founder Do Kwon has pleaded guilty to conspiracy to commit fraud and wire fraud, nearly three years after the $60 billion implosion of the Terra/Luna (CRYPTO: LUNC) stablecoin ecosystem.
The 33-year-old South Korean national appeared in Manhattan federal court Tuesday wearing a yellow prison jumpsuit and shackles, admitting that he knowingly misled purchasers of the TerraUSD stablecoin, Coindesk reported on Tuesday.
Judge Paul Engelmayer confirmed that Kwon understood the charges, which stem from an earlier indictment that also included securities and commodities fraud counts.
Kwon originally faced up to 135 years in prison if convicted on all charges, but a plea agreement …
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