Terra/Luna founder Do Kwon just got slapped with a 15-year sentence for orchestrating one of crypto's biggest collapses—a $40B wipeout that sent shockwaves through the entire market. The judge didn't hold back, calling it a massive fraud scheme that destroyed countless portfolios overnight.
This case has been dragging on for years, but today's ruling marks a turning point. Kwon's algorithmic stablecoin experiment imploded spectacularly in 2022, triggering a domino effect that took down multiple platforms. Investors worldwide lost their life savings when UST depegged and LUNA went to zero.
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