Do Kwon's Misfortune Is Not Over: US and South Korea Dual Trials Approaching

**After the US verdict, an even greater crisis awaits in South Korea**

The most significant case in cryptocurrency history has added a new chapter. Terraform Labs co-founder Do Kwon was sentenced to 15 years in federal prison in Manhattan, accused of orchestrating the most severe crypto scam to date—the $40 billion TerraUSD collapse. However, this verdict is only the prelude; more severe tests come from his homeland.

**South Korean prosecutors plan to escalate punishments**

According to the latest reports, South Korean prosecutors are initiating a second round of charges, seeking over 30 years in prison for Do Kwon, on charges of violating the Capital Markets Act. The 34-year-old Korean national, after serving more than half of his sentence in the US, will have the opportunity to transfer and continue serving time in South Korea. Why is South Korea so harsh? The key lies in the scale of domestic victims—about 200,000 Korean investors lost 300 billion KRW (approximately $2.04 billion) in this storm.

**From Fraud to Guilty Plea: A Four-Year Conspiracy**

US District Judge Paul Engelmayer delivered a somber tone during the sentencing: "Few cases in federal fraud result in such widespread and profound damage." Do Kwon has pleaded guilty, admitting to deliberately planning fraudulent schemes from 2018 to 2022 to lure investors into Terraform Labs cryptocurrencies. When the plan was exposed in May 2022, the TerraUSD stablecoin and Luna tokens plummeted simultaneously, triggering a chain reaction that affected the entire crypto market.

Do Kwon's dual predicament is now certain—15 years in US prison plus a 30-year indictment in South Korea, making long-term imprisonment unavoidable even if transferred midway.