South Korean crypto entrepreneur and prosecuted fraudster Do Kwon was sentenced to 15 years in prison by a US federal judge in the Southern District of New York on Thursday.

Kwon cut a solemn figure as he was escorted into the courtroom by US Marshals, his head bowed. He wore a bright lemon-colored prison jumpsuit over a long-sleeve shirt, with cuffs around his waist and hands.

In August, Kwon pleaded guilty to defrauding investors who purchased crypto coins issued by his company, Terraform Labs. In May 2022, the abrupt collapse of those coins wiped out $40 billion and sent the crypto economy into a tailspin that bankrupted numerous other companies.

“Kwon’s fraud was colossal in scope, permeating virtually every facet of Terraform’s purported business,” US prosecutors wrote in a

See Full Page