2 entries tagged “securities-fraud”.
Co-founder of Terraform Labs, which created the TerraUSD (UST) stablecoin and LUNA. Pleaded guilty to U.S. fraud charges and was sentenced in December 2025 to 15 years in prison.
The algorithmic stablecoin TerraUSD (UST) lost its dollar peg in May 2022 and, with its sister token LUNA, collapsed. The SEC and DOJ cited about $40 billion in investor losses; co-founder Do Kwon was sentenced to 15 years.