Crypto-crasher Do Kwon jailed for 15 years over $40bn UST bust
ID: 7065cb22-c003-55a7-89db-3edac5468c65
STIX ID: report--7065cb22-c003-55a7-89db-3edac5468c65
Feed Name: The Register (Security)
Terraform Labs founder Do Kwon was sentenced to 15 years in the U.S. after pleading guilty to commodities, securities, and wire fraud stemming from the 2022 collapse of the TerraUSD (UST) stablecoin; attempts to stabilize UST failed, causing tens of billions in losses, while the SEC moved to wind down Terraform Labs and secured $4.5B for victims—only a fraction of the total—amid painful victim impact statements.
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