Do Kwon apologizes to victims in court during 15-year sentencing

Terraform Labs co-founder Do Kwon, who was sentenced to 15 years in prison by a U.S. court, told the court that he wanted to apologize to all his victims, CNBC reported. Kwon is the central figure in the $40 billion collapse of the Terra-Luna ecosystem and was indicted on nine charges. Hundreds of victims reportedly sent letters detailing their losses following his extradition to and detention in the U.S. in 2024. CNBC also noted that Kwon, wearing a yellow prison jumpsuit, said the victims' stories were heartbreaking and served as a reminder of the great damage he had caused. Following the sentencing, Kwon's defense team stated that he is genuinely remorseful and will continue to work toward compensating victims. Kwon had previously reached an agreement with U.S. prosecutors to plead guilty to some charges in exchange for serving half of his sentence in another country. This arrangement could allow him to serve the remainder of his term in a nation such as South Korea.