South Korean entrepreneur Do Kwon has pleaded guilty in US court to fraud and conspiracy charges in connection with the 2022 collapse of the cryptocurrencies TerraUSD and Luna, which caused $40 billion in losses. Kwon admitted to misleading investors with false claims about the stability of TerraUSD. He faces up to 25 years in prison after plea deals with prosecutors, but the sentence could be reduced to 12 years if he pleads guilty. Kwon is in detention in the US and is also facing charges in South Korea.
Sources
Do Kwon, fondatorul Terraform Labs, recunoaşte în SUA fraude de miliarde de dolari, după colapsul criptomonedelor TerraUSD şi Luna
Răsturnare de situație în cazul uneia dintre cele mai spectaculoase prăbușiri ale unei criptomonede: antreprenorul cripto Do Kwon pledează vinovat
'Cryptocrash king' Do Kwon pleads guilty to fraud
Crypto mogul Do Kwon pleads guilty to fraud for $40bn market collapse
Prăbușirea criptomonedelor TerraUSD şi Luna: Do Kwon, fondatorul Terraform Labs, recunoaşte fraude de miliarde de dolari, în SUA
Latest News
20:25
The authorities in Pakistan announce that the monsoon rains have caused 107 deaths and hundreds of damaged homes. The situation is critical in the Punjab province, where the floods are affecting thousands of people.
20:12
The former Moldovan Minister of Defense, Anatol Șalaru, proposes the withdrawal of Dan Dungaciu's citizenship for controversial statements about the aid provided to the Republic of Moldova.
20:08
The Canadian police reported gunfire near the US Consulate in Toronto/ The area has been isolated, and a suspect has fled.
20:01
Romgaz recorded a decline of 3.2% in hydrocarbon production in the first half of 2026
19:44
A freight train with 36 diesel cars was stopped at the Rădoiești-Deal halt due to a minor leak. Dozens of people were evacuated within a radius of 300 meters.
See more news