Do Kwon, co-founder of Terraform Labs, received a 15-year prison sentence for fraud linked to the collapse of his cryptocurrencies, TerraUSD and Luna, which lost $40 billion. He pleaded guilty to conspiracy and wire fraud, acknowledging his responsibility for the harm caused to investors. The judge criticized the scale of Kwon's actions, which contributed to a significant downturn in the crypto market.

Do Kwon, co-founder of Terraform Labs, received a 15-year prison sentence for fraud that led to a $50 billion loss in the crypto market. The judge highlighted Kwon's deceitful actions and the extensive impact on victims while rejecting the defense’s plea for a lighter sentence. Kwon admitted his guilt and expressed remorse during the hearing.