U.S. prosecutors seek 12-year sentence for Terraform Labs founder Do Kwon

Source: DigitalToday Original Title: US Prosecutors Seek 12-Year Prison Sentence for Terraform Labs’ Do Kwon Original Link: US prosecutors have requested a 12-year prison sentence for Terraform Labs co-founder Do Kwon (Korean name: Kwon Do-hyung).

Do Kwon pleaded guilty to charges of wire fraud and conspiracy to commit fraud in July.

Prosecutors stated, “The losses caused by Do Kwon in just a few years exceed the combined losses caused by Sam Bankman-Fried, Alexander Mashinsky, and Carl Sebastian Greenwood,” and called for severe punishment. The collapse of Terraform is considered a major event in the cryptocurrency market, triggering a domino crisis and accelerating the onset of the “crypto winter.”

After serving his sentence in the US, Do Kwon will be immediately deported to South Korea. According to reports, he could face an additional 40-year prison sentence in South Korean courts.

Considering these circumstances, the defense team has requested a prison sentence not exceeding 5 years, but the likelihood of the US court accepting this request is low.