Do Kwon, the founder behind the collapsed Terra cryptocurrency project, finally pleaded guilty on Tuesday to fraud charges that wiped out billions of dollars from investors. Kwon admitted he knowingly deceived buyers about his company’s flagship products between 2018 and 2022. Do Kwon, hailing from South Korea, founded Terra, a crypto ecosystem that promised huge returns through its LUNA token and TerraUSD stablecoin. Authorities say he ran a fraudulent scheme that made him rich but devastated investors when the project collapsed in 2022. Kwon reverses plea, admits to fraud Kwon changed his plea after initially fighting nine criminal charges, including…
