Do Kwon Confesses to $40B Terra/Luna Fraud — Strong Sell for LUNA

I note that Do Kwon, founder of Terraform Labs and the Luna project, has confessed to charges tied to the $40 billion collapse of TerraUSD and LUNA. This admission confirms one of the largest frauds in crypto history and explains the market’s severe loss of trust.

Reactions in the industry range from relief to anger; Kwon faces up to 25 years in prison, though his plea may reduce that term. For holders and market participants, the confession deepens legal and reputational damage and makes a meaningful recovery for LUNA unlikely.