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Do Kwon, the South Korean cryptocurrency entrepreneur who was behind two digital currencies that lost an estimated $40bn in 2022, has been sentenced to 15 years in prison for what a New York judge called an "epic fraud." Mr. Kwon was the co-founder of Singapore-based Terraform Labs, which developed the TerraUSD and Luna digital coins. U.S. District Judge Paul A Engelmayer said the Stanford graduate had repeatedly lied to investors who trusted him with their money. "This was a fraud on an epic, generational scale," he said during Thursday's court hearing in Manhattan. "In the history of federal prosecutions, there are few frauds that have caused as much harm as you have."
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