U.S. Attorney’s Office for the Southern District of New York

Rule Changes

Brought criminal fraud, commodities, and securities charges against Kwon.

Do Kwon sold TerraUSD as math-made money that could never break. In 2022 it snapped, vaporizing more than $40 billion and triggering a global hunt for the Stanford‑trained founder. Three years, an Interpol red notice, and a Montenegro arrest later, a New York judge has now handed him 15 years in federal prison.

Updated Dec 11, 2025