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Do Kwon may face a second trial in South Korea after being sentenced to 15 years in the US

2025-12-15 09:53:56

LUNA2.46%

Golden Finance reports that, according to Cryptonews, Terraform Labs co-founder Do Kwon was sentenced to 15 years in prison by the U.S. Manhattan Federal Court for orchestrating the $40 billion TerraUSD collapse. He may still face a second trial in South Korea.
According to reports, South Korean prosecutors are seeking a sentence of over 30 years for Do Kwon on charges of violating the Capital Markets Act. The 34-year-old South Korean national can apply for transfer to South Korea after serving half of his sentence, and approximately 200,000 Korean investors have lost about 300 billion KRW ($2.04 billion) as a result.
U.S. District Judge Paul Engelmayer stated during last week's sentencing: "In federal prosecution history, few fraud cases have caused such severe damage." Do Kwon has admitted to deliberately engaging in a fraud scheme involving Terraform Labs cryptocurrencies from 2018 to 2022, which led to the collapse of TerraUSD stablecoin and Luna tokens in May 2022, triggering a chain reaction in the cryptocurrency market.

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GateUser-240e89d2

· 2025-12-15 11:34

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GateUser-240e89d2

· 2025-12-15 11:34

View OriginalReply0