Do Kwon sentenced to 15 years for Terra/Luna fraud
Terraform Labs founder Do Kwon has been handed 15 years in prison for his role in the $40B collapse of the Terra/Luna ecosystem.
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Terraform Labs founder Do Kwon has been handed 15 years in prison for his role in the $40B collapse of the Terra/Luna ecosystem.
Read more (2 min) →— Luna, Stablecoins
The spectacular failure of Terra has caused money to flee from algorithmic stablecoins and has seen many abandon their plans.
The August deadline set for Terra/LUNA victims to submit their crypto loss claims will determine who can vote in bankruptcy proceedings.
It's claimed that Milojko Spajić made a deal with Do Kwon to buy millions of dollars of Terra/Luna tokens for a Bulgarian-based hedge fund.
Do Kwon has successfully appealed his extradition, sending his case back to a Montenegro court for retrial.
Montenegro has granted Terraform Labs founder Do Kwon extradition to either South Korea or the US, but the court will decide.
Terra has advised users to only refer to its official X (formerly Twitter), Telegram, and Discord channels for updates.
Former fugitive Do Kwon is a hot commodity. Both the US and South Korea are battling to win extradition, where he faces grave fraud charges.
— FTX, Jane Street
Researcher Igor Igamberdiev claims Jane Street largely contributed to the depegging of UST and Terra's collapse -- but did it mean to?
Multiple reports have placed Kwon in Serbia but the country's extradition laws and agreements could make getting him back to Korea tricky.