US court sentences TerraUSD creator Do Kwon to 15 years for $40 bn crypto collapse

Do Kwon, co-founder of Terraform Labs, was sentenced to 15 years in US prison for orchestrating a $40 billion cryptocurrency fraud involving TerraUSD and Luna tokens. Judge Engelmayer called the crime "a fraud on an epic, generational scale," affecting up to a million victims worldwide. Kwon agreed to forfeit over $19 million and apologized to victims, acknowledging the devastating impact on savings, retirement funds, and charities.