A jury recently concluded that Terraform and its founder, Do Kwon, bear legal responsibility for the company’s collapse in 2022. Initially, the SEC sought $5.3 billion in fines from both parties. Following Terra’s $60 billion crash, which had a ripple effect on the digital asset industry, several entities faced bankruptcy. Do Kwon, a former cryptocurrency mogul, was on the run for some time, but has been approved for extradition to the United States or South Korea on multiple occasions.
Currently, the destination for Kwon’s extradition remains unknown, but he may potentially face a lengthy prison sentence for his involvement in Terra’s downfall.
