{"id":932,"date":"2025-08-12T19:57:29","date_gmt":"2025-08-12T15:57:29","guid":{"rendered":"https:\/\/www.actutech.app\/terraform-co-founder-do-kwon-pleads-guilty-over-40-billion-crypto-collapse\/"},"modified":"2025-08-12T19:57:29","modified_gmt":"2025-08-12T15:57:29","slug":"terraform-co-founder-do-kwon-pleads-guilty-over-40-billion-crypto-collapse","status":"publish","type":"post","link":"http:\/\/www.actutech.app\/en\/terraform-co-founder-do-kwon-pleads-guilty-over-40-billion-crypto-collapse\/","title":{"rendered":"Terraform co-founder Do Kwon pleads guilty over $40 billion crypto collapse"},"content":{"rendered":"
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Terraform Labs co-founder Do Kwon has pleaded guilty to conspiracy and wire fraud three years after his collapsed cryptocurrency firm wiped out $40 billion in funds, according to a report from Bloomberg<\/em><\/a>. Kwon entered his plea in a New York court on Tuesday as part of a deal reached with prosecutors that reduced his charges.<\/p>\n

Federal prosecutors in New York charged Kwon after his firm\u2019s Terra stablecoin and sister token Luna, crashed in 2022<\/a>, causing some investors to lose all of their savings<\/a> on a cryptocurrency they thought was supposed to be less volatile than others. Kwon was arrested in Montenegro in 2023 before the country extradited him to the US<\/a> over a year later.<\/p>\n

Inner City Press, which reports on courtroom proceedings, said Kwon admitted to knowingly defrauding<\/a> cryptocurrency customers and working with another company<\/a> to artificially inflate Terra\u2019s $1 peg. Kwon\u2019s sentencing is set for December 11th, with the conspiracy charge holding a maximum sentence of five years, and wire fraud at a maximum of 20 years, according to Bloomberg<\/em>.<\/p>","protected":false},"excerpt":{"rendered":"

Terraform Labs co-founder Do Kwon has pleaded guilty to conspiracy and wire fraud three years after his collapsed cryptocurrency firm […]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-932","post","type-post","status-publish","format-standard","hentry","category-non-classe"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/posts\/932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/comments?post=932"}],"version-history":[{"count":0,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/posts\/932\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/media?parent=932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/categories?post=932"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/tags?post=932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}