1 days ago
CoinRank
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According to The Block, Terraform Labs founder Do Kwon has been sentenced to 15 years in prison for his role in the collapse of the Terra–Luna tokens. The 2022 crash wiped out $40 billion in value.
Kwon was sentenced on Thursday in the Southern District of New York, receiving a longer term than prosecutors had initially requested. Prosecutors argued he deserved 12 years due to the scale of the fraud and his prior misconduct, while Kwon’s lawyers pushed for a 5-year sentence.
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