Cases Surveillance Risk Index Takeaway

Search...⌘K @NOTONKETAMINE⚠ SATIRE — RISK SCORES ARE FICTIONAL

DEEP WATCH — PHIA: FIRST IT COPIED THE PAGE, THEN IT CLAIMED THE SALE // TWO REPORTED EXTENSION INCIDENTS // IRL: $170M FEDERAL INDICTMENT // BITCLOUT: CASES DISMISSED // FRANK: 85 MONTHS // SBF: 25 YEARS // TERRAFORM: 15 YEARS // KALDER: SENTENCING WATCH // DELVE: 493 ALLEGED COPY-PASTE AUDITS // ELLISON: RELEASED // NIKOLA: PARDONED // DEEP WATCH — PHIA: FIRST IT COPIED THE PAGE, THEN IT CLAIMED THE SALE // TWO REPORTED EXTENSION INCIDENTS // IRL: $170M FEDERAL INDICTMENT // BITCLOUT: CASES DISMISSED // FRANK: 85 MONTHS // SBF: 25 YEARS // TERRAFORM: 15 YEARS // KALDER: SENTENCING WATCH // DELVE: 493 ALLEGED COPY-PASTE AUDITS // ELLISON: RELEASED // NIKOLA: PARDONED //

Classification: Factual Record / Company File

Evidence File / 004-DK

Updated: July 19, 2026Status: CONVICTED

ID: 004-DK — FORBES 30U30 2019 (FINANCE — ASIA)CONVICTED

Do Kwon

FounderDo Kwon

Terraform Labs

Stanford / Wire fraud, securities fraud, commodities fraud

Forbes 2019FINANCE — ASIAReviewed July 19, 2026

Built an "algorithmic stablecoin" that was secretly stabilized through an intervention by a trading firm until the whole thing collapsed in 48 hours, wiping $40B and several people's life savings.

Market Losses$40,000,000,000

StatusCONVICTED

Amount / exposure$40B+

◆ SEC: Terraform & Kwon Charged ◆ DOJ: Kwon Sentenced to 15 Years ◆ Reuters: $40B Crypto Crash 𝕏 𝕏: @FatManTerra collapse thread