do kwon case

[bitterguy28]

are you familiar with alleged crypto king do kwon?

do kwon, korean national, may now be facing 130 years of imprisonment under the us law he is being investigated for charges of fraud, commodities fraud, wire fraud, conspiracy, and money laundering do kwon was a former ceo of terraform labs which he launched a stablecoin for and then he made a deal with a platform to mislead his investors into thinking there is real confidence and success in the project there were even reports saying that his victims may have been a million investors

do kwon did a handful of things and were involved in multiple frauds but i feel for the investors who had fallen victim because i do not think they could have done anything differently to not have ended up in this situation as do kwon and his partnering platform totally deceived the people and no transparency was shown for any of the investors to appropriately make a decision

[hugeblack]

A potential sentence of 130 years in prison is the end of what he will get if he is convicted on all charges which include if he is convicted on all charges which include securities fraud, commodity fraud, wire fraud and money laundering as he quickly tried to mislead investors and misuse their money to boost the stablecoin UST.


I don't expect him to be convicted on all charges but he will definitely face fraud and money laundering charges and I expect him to get 30 years or more.

[Freemind]

Do Kwon once said (that I remember) that he didn't talk to poor people, but apparently he ran away like a rat, rather than face reality and its possible consequences. Aside from that, the way it worked with its stablecoin (UST) was a mistake from the beginning, and also the beginning of the end, especially for the money of many affected investors. What I still don't know, I haven't read it anywhere, is whether those affected will recover their investments.

I don't expect him to be convicted on all charges but he will definitely face fraud and money laundering charges and I expect him to get 30 years or more.

Considering Sam Bankman's sentence, it is very possible that Do Kwon's sentence will be what you say or even a little higher. Although there is a difference in the charges.

[target]

Took them this long to have this case finally run  yet there is still no assurance the victims gonna get justice. When they thinm of the money lost because of this investment, its like recurring crypto trauma.

Is the prosecusion going prove that depegging the UST is his plan?  Because it looks so hard that he does have the intention.

[Baofeng]

Depends on how the US justice system it, just look at how SBF criminals case went, he didn't go to jail for 100+ years.

So probably the same with Do Kwon here, probably 20-30 years as well. But the thing is that he is not a US citizen so maybe less than that and he is out and being extradited to his native country.

As far as the victims goes? Not sure if Do Kwon still has the assets to pay those victims.

[ZAINmalik75]

do kwon did a handful of things and were involved in multiple frauds but i feel for the investors who had fallen victim because i do not think they could have done anything differently to not have ended up in this situation as do kwon and his partnering platform totally deceived the people and no transparency was shown for any of the investors to appropriately make a decision

Is he sentenced to 130 years of imprisonment, or is it still a may? It looks like he has not been given the 130 years of imprisonment yet but the news author has predicted that considering the crimes he committed he can get 130 years of imprisonment. Which in other words is imprisonment for life.

The fraud was massive It was famous and it badly impacted the market we all in the crypto market hope nothing happens again. The recent fud of USDT also created the same environment and many were avoiding it even USDT ceo made things clear but if there is a fud created in the market by big players then newbies always fell for it.

[Zed0X]

I almost forgot who this guy is. About the sentencing, I think it depends on what he's willing to give to the prosecutors in exchange of a lighter sentence. Him hiding or running instead of willfully surrendering (like what CZ did) is probably going to affect that as well.

[robelneo]

That 130 years in prison is just a potential sentence if he is convicted on all the charges. I'm sure his lawyers will find a way to combat these charges and to get lighter charges. He may even strike a deal and for a few years of jail time, whatever happens, he should be convicted. This is to deter admins like him to not resort to cheating and scamming their investors; it will be good if he gets a 20 years non parole sentence, this may satisfy those he scammed.

[hugeblack]

Considering Sam Bankman's sentence, it is very possible that Do Kwon's sentence will be what you say or even a little higher. Although there is a difference in the charges.

The UST collapse was the beginning of all this chaos and caused real losses to investors in addition to all the stringent regulatory laws that were based on this collapse, and it even caused some suicides.


So the sentence will not be light, 30 years will seem logical if they can prove the charges.

[TomPluz]

Aside from FTX's implosion and the eventual sentencing of Samuel Benjamin Bankman-Fried who got at least 25 years in prison, the industry is also fixated on the drama related to the case of Do Kwon of the Terra/Luna saga which collapsed in 2022 leaving many victims along the way. One common thread in these two stories is the involvement of deception, among many other legal matters. Soon Do Kwon will be tried in USA and there is a big possibility he would also be getting some hefty years of imprisonment and maybe some restitutions out of the assets that can be recovered from him and his firm. Unfortunately, there is a strong feel that I have that this will never be the last and through the years we can still encounter similar corrupt situations out of the industry we are walking. Therefore we can say that the cryptocurrency industry and tis allied sectors have become a haven for both opportunities and frauds at the same time...floating in the ocean looking for people whom they can attach to making them rich or suck the life of them away.

[bitterguy28]

Is he sentenced to 130 years of imprisonment, or is it still a may? It looks like he has not been given the 130 years of imprisonment yet but the news author has predicted that considering the crimes he committed he can get 130 years of imprisonment. Which in other words is imprisonment for life.

he has not yet been given 130 years but if he is to be found guilty of all his charges it could amount to 130 years it is the maximum he could get currently he is pleading not guilty of the charges if this is the maximum he’d probably spend more than 10 years in prison at this rate

The fraud was massive It was famous and it badly impacted the market we all in the crypto market hope nothing happens again. The recent fud of USDT also created the same environment and many were avoiding it even USDT ceo made things clear but if there is a fud created in the market by big players then newbies always fell for it.

i don’t think there is any way for people to avoid fud there will always be those who will keep falling for it and keep falling victim to these kinds of scams no matter how much research they do it will be difficult to not give trust to a project that seemed legit at first anyway

[NotATether]

are you familiar with alleged crypto king do kwon?

Crypto king?  LMAO

All of these self-proclaimed "crypto kings" just made a bunch of money through trading and then either flaunt their wealth online and get kidnapped by armed robbers, evade taxes and get arrested, or make crypto funds like this guy did that lose everyone's money at the end.

So it's sort of a jinx, nobody should call themselves such a thing if they have any sense.

[Freemind]

Crypto king?  LMAO

All of these self-proclaimed "crypto kings" just made a bunch of money through trading and then either flaunt their wealth online and get kidnapped by armed robbers, evade taxes and get arrested, or make crypto funds like this guy did that lose everyone's money at the end.

So it's sort of a jinx, nobody should call themselves such a thing if they have any sense.

To know how far Do Kwon's ego could go, you only had to watch a minute of one of his videos. Analyzing a single minute of his way of speaking was enough to get to know him a little. A while ago I watched some of his videos and the first thing that came to mind was that Do Kwon was not a humble (no matter how many millions he had) person but quite the opposite. Many of his comments in those videos were offensive.

And you're right, he lost a lot of people's money, but he probably didn't lose his own.

[ZAINmalik75]

he has not yet been given 130 years but if he is to be found guilty of all his charges it could amount to 130 years it is the maximum he could get currently he is pleading not guilty of the charges if this is the maximum he’d probably spend more than 10 years in prison at this rate

I am not a lawyer but 10 years are also a lot of years in prison. If he were found guilty then 130 years would be like spending all of his remaining life in prison. According to the news he was not pleaded guilty can you confirm too.

i don’t think there is any way for people to avoid fud there will always be those who will keep falling for it and keep falling victim to these kinds of scams no matter how much research they do it will be difficult to not give trust to a project that seemed legit at first anyway

It's the behaviour of us people who got panicked quickly especially newbies fail to control their emotions and experts take benefit of them like whales try to manipulate and news also start to publish bad and a fomo created in the market.

[bitterguy28]

he has not yet been given 130 years but if he is to be found guilty of all his charges it could amount to 130 years it is the maximum he could get currently he is pleading not guilty of the charges if this is the maximum he’d probably spend more than 10 years in prison at this rate

I am not a lawyer but 10 years are also a lot of years in prison. If he were found guilty then 130 years would be like spending all of his remaining life in prison. According to the news he was not pleaded guilty can you confirm too.

the trial was postponed to happen in january 2026 due to massive evidence that they need to go through we are talking 6 terabytes of data which could break or make his case a year is long but they say that do kwon's data are hard to access and encrypt and they still need to translate it from korean to english

kwon's lawyer might request an earlier date because he is being held under custody without bail

here is the source