Do Kwon was sentenced to 15 years in prison by a U.S. judge.

The Southern District of New York sentenced Terraform Labs founder Do Kwon to 15 years in prison, exceeding the sentence prosecutors had previously requested. Prosecutors argued that given Kwon's past misconduct and the sheer scale of the fraud, he should have received a 12-year sentence; Kwon's lawyers, however, argued for a mere 5-year sentence. U.S. District Judge Paul Engelmayer stated that Kwon "chose to lie" and "made the wrong choice." In March 2023, Kwon was criminally charged with conspiracy to commit fraud, merchandise fraud, wire fraud, securities fraud, conspiracy to commit fraud, and conspiracy to manipulate the market and launder money. In August of this year, Kwon pleaded guilty to wire fraud and conspiracy to commit fraud. Kwon may face further legal challenges in South Korea; he must serve at least half of his sentence before he can apply for transfer there, and the 17 months he served in Montenegro prison will be counted towards his sentence. (The Block)