Do Kwon, Crypto Entrepreneur Who Caused 2022 Crash, Sentenced to 15 Years
The New York Times••business
Key Points:
- Do Kwon, creator of the collapsed cryptocurrencies TerraUSD and Luna, was sentenced to 15 years in prison for fraud related to the 2022 crypto market crash.
- The collapse of TerraUSD and Luna triggered a wider crypto market crisis, leading to the downfall of several major crypto companies.
- Kwon pleaded guilty after an international manhunt, with prosecutors seeking a 12-year sentence and his lawyers arguing for no more than five years.
- Judge Paul Engelmayer exceeded the prosecution's recommendation, citing the "epic, generational scale" of Kwon's fraud and his deliberate deception of investors.
- This sentencing follows similar legal actions against crypto executives, including Sam Bankman-Fried, who received a
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