Do Kwon Gets 15 Years for $40 Billion Terraform Fraud (3)

Terraform Labs Pte. co-founder and onetime fugitive Do Kwon was sentenced to 15 years in prison for the fraud that led to the company’s $40 billion collapse in 2022 and triggered a series of cascading crises in the cryptocurrency world.

Kwon, 34, was sentenced at a hearing Thursday in New York by US District Judge Paul Engelmayer, who called his crimes “a fraud of epic generational scale.” The decision caps a long fight by the US to prosecute the crypto entrepreneur and extradite him from Montenegro, where he was imprisoned for using a fake passport. He still faces fraud ...