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Terraform Founder Cops To $40B Crypto Fraud Scheme

By Stewart Bishop · August 12, 2025, 8:45 PM EDT

The founder and former CEO of Terraform Labs on Tuesday admitted to perpetrating a multibillion-dollar fraud by deceiving investors about its decentralized finance-based ecosystem of crypto products, a scheme that wiped...

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Case Information

Case Title

USA v. Kwon

Case Number

1:23-cr-00151

Court

New York Southern

Nature of Suit

Date Filed

March 23, 2023

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