Co-founder of Singapore-based Terraform Labs given more jail time by US judge than prosecutors sought
Do Kwon, the entrepreneur behind two cryptocurrencies that lost $40bn (£29.8bn) three years ago and caused the sector to crash, has been sentenced to 15 years in prison for fraud.
The South Korean, 34, had pleaded guilty to two counts of US charges of conspiracy to defraud and wire fraud.
Kwon, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, was sentenced at a hearing in New York.
The US district judge Paul Engelmayer called his crimes “a fraud of epic generational scale”.
