{"id":223,"date":"2025-12-13T16:22:46","date_gmt":"2025-12-13T16:22:46","guid":{"rendered":"https:\/\/thriveimmunityus.com\/?p=223"},"modified":"2025-12-13T16:22:46","modified_gmt":"2025-12-13T16:22:46","slug":"crypto-billionaire-do-kwon-is-sentenced-to-15-years-in-prison","status":"publish","type":"post","link":"https:\/\/thriveimmunityus.com\/?p=223","title":{"rendered":"Crypto billionaire Do Kwon is sentenced to 15 years in prison."},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Kwon included on Forbes magazine&#8217;s 30 under 30 Asia list.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" src=\"https:\/\/thriveimmunityus.com\/wp-content\/uploads\/2025\/12\/mog1765590411-0-640x480-1.webp\" alt=\"\" class=\"wp-image-224\" style=\"width:832px;height:auto\" srcset=\"https:\/\/thriveimmunityus.com\/wp-content\/uploads\/2025\/12\/mog1765590411-0-640x480-1.webp 640w, https:\/\/thriveimmunityus.com\/wp-content\/uploads\/2025\/12\/mog1765590411-0-640x480-1-300x225.webp 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><figcaption class=\"wp-element-caption\">Do Kwon, the cryptocurrency tycoon<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>NEW YORK:<\/strong> A US court sentenced cryptocurrency entrepreneur Do Kwon to 15 years in jail Thursday for fraud related to his company&#8217;s bankruptcy, which wiped out $40 billion in investor funds and rattled global crypto markets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Kwon, who developed two digital currencies key to the bankruptcy, was sentenced in a New York court after pleading guilty in August following an international investigation spanning Asia and Europe.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He is still facing fraud allegations in his home South Korea.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Terraform Labs, founded by the 34-year-old, invented TerraUSD, a cryptocurrency touted as a &#8220;stablecoin,&#8221; or a token tied to stable assets such as the US dollar to avoid extreme changes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Kwon effectively positioned them as the next big thing in cryptocurrency, generating billions of dollars in investment and global attention.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He was hailed as a &#8220;genius&#8221; by South Korean media, and thousands of private investors lined up to invest in his company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2019, Kwon was named one of Forbes magazine&#8217;s 30 Under 30 in Asia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite billions of dollars in spending, TerraUSD and its sibling coin Luna entered a death spiral in May 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Experts claimed Kwon ran a glorified pyramid scheme in which many investors lost their life savings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He fled South Korea before the crash and spent months on the run.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The crypto tycoon was apprehended in March 2023 at the airport in Podgorica, Montenegro&#8217;s capital, while attempting to board an aircraft to Dubai with a forged Costa Rican passport.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He was extradited last year from Montenegro to the United States.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Following Kwon&#8217;s sentencing on Thursday, US prosecutors outlined how he made false representations about his business to attract purchasers, including American investment firms. AFP<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kwon included on Forbes magazine&#8217;s 30 under 30 Asia list. NEW YORK: A US court sentenced cryptocurrency entrepreneur Do Kwon to 15 years in jail&hellip;<\/p>\n","protected":false},"author":2,"featured_media":224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,6],"tags":[198,197,196,199,31,32],"class_list":["post-223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","category-world","tag-15-years","tag-billionairs","tag-crypto","tag-kwon","tag-latest-news","tag-latest-update"],"_links":{"self":[{"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=\/wp\/v2\/posts\/223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=223"}],"version-history":[{"count":1,"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=\/wp\/v2\/posts\/223\/revisions"}],"predecessor-version":[{"id":225,"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=\/wp\/v2\/posts\/223\/revisions\/225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=\/wp\/v2\/media\/224"}],"wp:attachment":[{"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thriveimmunityus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}