Crypto Tycoon Do Kwon Sentenced to 15 Years for $40 Billion Cryptocurrency Fraud

Dec 12, 2025 11:56 am CST

Former cryptocurrency mogul Do Kwon has been sentenced to 15 years in prison by a US court for orchestrating a $40 billion fraud through his company Terraform Labs. Once celebrated in Forbes' 30 under 30 Asia list, Kwon created the "stablecoin" TerraUSD before its catastrophic collapse in 2022. After an international manhunt, he was arrested in Montenegro and now faces additional fraud charges in South Korea.