Victim Letters Influence Sentencing of Terra Founder Do Kwon
Ahead of Terraform Labs founder Do Kwon's sentencing, 315 victim letters were submitted detailing the personal impact of the Terra/LUNA collapse. This collapse, valued at $40 billion, potentially affected millions of victims, according to U.S. District Judge Paul Engelmayer. The letters described significant losses resulting in increased suicide risk, bankruptcy, and declines in health.
Among the testimonies, Anita Youabian reported a loss of $200,000 accompanied by worsened health. Another victim cited a loss of $62,000 tied to the Anchor Protocol, while one individual detailed a mid-to-high eight-figure loss in Luna, highlighting severe implications for family and relationships. The letters collectively illustrated broad ripple effects on mental health, family dynamics, and daily life.
Judge Engelmayer referenced these letters ahead of sentencing, acknowledging the victims' suffering. Discussions regarding whether Kwon should express remorse were not positioned as invitations for an apology. Thirty additional letters were filed late; although Kwon declined to adjourn the hearing to read them, he committed to reviewing them at the earliest opportunity. These victim letters are publicly accessible through official court logs.
Ultimately, U.S. District Judge Paul Engelmayer sentenced Do Kwon to 15 years in prison, a decision influenced by the impactful victim testimonies.
