Terraform Labs co-founder Do Kwon to be sentenced in New York

Do Kwon, co-founder of Terraform Labs, is scheduled to receive his final sentence on Dec. 11 at the U.S. District Court for the Southern District of New York. Kwon, the central figure in the $40 billion collapse of the Terra-LUNA ecosystem, was indicted on nine charges. He was arrested in Montenegro in 2023 for using a forged passport and was extradited to the U.S. in 2024. U.S. prosecutors have requested a 12-year prison sentence, while Kwon's defense team is seeking a five-year term, citing a plea agreement and his consent to the forfeiture of $19 million in assets.