Do Kwon, Terra-Luna Founder, Should Serve 12-Year Sentence for Crypto Fraud, US Prosecutors Say

U.S. federal prosecutors are requesting a 12-year prison sentence for Do Kwon, the founder of Terraform Labs, following his guilty plea to defrauding investors and manipulating crypto markets. Prosecutors argued in a filing that the collapse of Kwon's Terra-Luna ecosystem, which caused losses exceeding those from FTX, Celsius, and OneCoin combined, necessitates a substantial term to reflect the fraud's scale and deter future misconduct. Kwon's defense team requested only a five-year sentence, considering time served in Montenegro and potential prosecution in South Korea. Prosecutors emphasized that Kwon fled the wreckage, blamed others while in hiding, and resisted extradition. Kwon's sentencing is scheduled for December 11 in Manhattan federal court.

(Source：CoinDesk)