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Do Kwon pleads guilty in US to fraud, prosecutors announce

( August 12, 2025, 20:26 GMT | Official Statement) -- MLex Summary: Do Kwon, cofounder and former chief executive officer of Terraform Labs, pleaded guilty to one count of conspiring to commit commodities fraud, securities fraud and wire fraud, and one count of committing wire fraud in connection with fraudulent schemes at Terraform, prosecutors announced today. "Kwon used the technological promise and investment euphoria around cryptocurrency to commit one of the largest frauds in history,” said US Attorney Jay Clayton.Statement follows. Document attached....

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