Mogul Crypto Correa DO Kwon calls for fraud Encryption

He encodes an encrypted entrepreneur in prison for up to 25 years, on a collapse of $ 40 billion for Terrausd and Luna symbols.

Mogul Cryptocurrency Do Kwon acknowledged that he is guilty of fraud in the United States in a case linked to the collapse of $ 40 billion for Terrausd and Luna symbols.

Kwon, founder of Terraform Labs, based in Singapore, entered the call in the southern province in New York on Tuesday, the court said.

Coone admitted one of the conspiracy to commit fraud in goods, securities and wire fraud, and one of the wire fraud.

As part of his call, the encrypted businessman agreed to lose more than $ 19 million in revenue from his crimes, according to public prosecutors.

In January, Kwon was aon for guilt on nine charges in the case, including securities fraud, wire fraud and money laundering conspiracy.

“Do Kwon has used the technological promise and the stagnation of investment around the encrypted currency to commit one of the largest fraud in history,” said American lawyer Jay Clayton.

“KWON has attracted tens of billions of money to the ecosystem of TerraForm by promising a STADLECOIN suspension. By the time when the markets discovered that the ecosystem was not stable, the system collapsed, and investors all over the world suffered from billions of losses.”

Koon, who is sentenced on December 11, is a maximum sentence of 25 years in prison.

Coone was handed over to the United States in December 2024, after his arrest in Montenegro after spent months of the authorities.