Terraform Labs co-founder Do Kwon has asked a US court to limit his prison term to five years as he faces a separate case in South Korea.
Terraform Labs co-founder Do Kwon has asked a US judge to cap his prison time at five years for his role in the collapse of the Terra ecosystem, which erased about $40 billion from crypto markets in 2022.
In a court filing on Wednesday, Kwon argued that a longer term would be excessive given the punishment he has already served and the penalties he has agreed to accept, according to Bloomberg.
Kwon pleaded guilty in August to two counts of wire fraud and conspiracy to defraud after being extradited from Montenegro, where he had been detained. His lawyers said he has spent nearly three years behind bars, “with more than half that time in brutal conditions in Montenegro,” and that he has already paid a heavy personal and financial price.
