Do Kwon
Founder of Terraform Labs (Terra / LUNA)
CONVICTED OF FRAUD. Pleaded guilty to US wire fraud in August 2025 and was sentenced to 15 years in prison in December 2025 over the Terra / LUNA collapse that wiped out roughly 40 billion dollars. Listed here as a cautionary case, not an endorsement.
Do Kwon Terra, whose May 2022 collapse wiped out roughly 40 billion dollars and triggered a wave of crypto bankruptcies.
Who they are
Do Kwon is the South Korean founder of Terraform Labs, which built the Terra blockchain, its algorithmic stablecoin UST and the sister token LUNA. For a time he was one of the most confident and combative founders in crypto.
History
In May 2022 UST lost its dollar peg and Terra collapsed, erasing roughly 40 billion dollars in days and helping trigger the failures of Three Arrows Capital, Celsius and others. Kwon fled, was arrested in Montenegro in 2023, and was eventually extradited to the United States. He pleaded guilty to US wire fraud in August 2025 and was sentenced to 15 years in December 2025, with possible further charges in South Korea. His account is dormant while he is imprisoned.
Notes
- Founded Terra; its UST stablecoin and LUNA token collapsed in May 2022.
- The collapse erased roughly 40 billion dollars and triggered contagion across crypto.
- Pleaded guilty to US wire fraud in August 2025; sentenced to 15 years in December 2025.
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Official links
Links point to accounts we believe are official at time of writing. Always double-check a handle before trusting it. Impersonators are everywhere in crypto.