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Terraform Labs founder Do Kwon pleads guilty to fraud over $40 billion crypto collapse
Terraform co-founder Do Kwon has pleaded guilty to two US chargers of fraud after his actions wiped out $40 billion worth of crypto investments.
Terraform co-founder Do Kwon has pleaded guilty to two US chargers of fraud after his actions wiped out $40 billion worth of crypto investments, The Guardian reported. Following the collapse, Kwon was put on wanted lists in both the US and South Korea, with investigators in the latter country enlisting Interpol to find the entrepreneur. Earlier, Kwon agreed to pay an $80 million civil fine and be banned from crypto transactions as part of a $4.55 billion US Securities and Exchange Commission settlement.
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