#terraform-labs

[ follow ]
#crypto-fraud #sentencing #stablecoin-collapse #do-kwon #legal-sentencing #ust-luna-collapse #cryptocurrency
#crypto-fraud
fromwww.bbc.com
7 hours ago
US news

Crypto fraudster sentenced for 'epic' $40bn stablecoin crash

Do Kwon was sentenced to 15 years in prison for defrauding investors after TerraUSD and Luna collapsed, causing about $40bn in losses.
fromWIRED
9 hours ago
Cryptocurrency

Crypto Magnate Do Kwon Sentenced to 15 Years in Prison

Do Kwon received a 15-year US federal prison sentence for defrauding investors through Terraform Labs, whose UST/LUNA collapse wiped out $40 billion.
more#crypto-fraud
fromFast Company
14 hours ago

'Crypto king' Do Kwon faces sentencing for misleading Terraform Labs' investors

Kwon, known by some as "the cryptocurrency king," pleaded guilty in Manhattan federal court in August to fraud charges stemming from Terraform Labs' $40 billion crash. The company had touted its TerraUSD as a reliable "stablecoin"—a kind of currency typically pegged to stable assets to prevent drastic fluctuations in prices. But prosecutors say it was all an illusion that came crumbling down, devastating investors and triggering "a cascade of crises that swept through cryptocurrency markets."
Law
[ Load more ]