Terraform Labs
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anchored·4ExxTK…DtteSummary
Terraform Labs Pte. Ltd. was a Singapore-based blockchain company founded in 2018 by Do Kwon and Daniel Shin, best known for developing the Terra blockchain, the algorithmic stablecoin TerraUSD (UST), and the associated LUNA cryptocurrency. In May 2022, UST lost its dollar peg, triggering a collapse that wiped out approximately $40–45 billion in market capitalization within days. Following SEC civil fraud proceedings, a unanimous jury verdict in April 2024, and a $4.47 billion settlement, the company filed for Chapter 11 bankruptcy in January 2024 and received court approval to wind down operations in September 2024. Co-founder Do Kwon was sentenced to 15 years in federal prison in December 2025.
Connected Entities
6 entities · 60 linked investigations- Jump Trading→mentioned with→Terraform Labs(85%)
- Jump Trading→mentioned with→Do Kwon(75%)
- Do Kwon→mentioned with→luna(70%)
- luna→mentioned with→Do Kwon(85%)
- luna→mentioned with→Bitcoin(70%)
- Terraform Labs→mentioned with→luna(70%)
- Anchor Protocol→mentioned with→Terraform Labs(80%)
- Do Kwon→mentioned with→Terraform Labs(80%)
- Do Kwon→mentioned with→Anchor Protocol(80%)
- luna→mentioned with→Terraform Labs(80%)
- + 8 more
Connected Through
6 shared actors · 506 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ♦Bitcointoken
- □Terraform Labsorganization
- ⌂Anchor Protocolprotocol
- □lunaorganization
Timeline(14 events)
2018
Terraform Labs Pte. Ltd. founded by Do Kwon and Daniel Shin in Singapore.
Terra (blockchain) - WikipediaMay 2021
UST experiences a smaller depeg event; Terraform Labs allegedly secretly arranged for Jump Trading to purchase UST to restore the peg, then publicly claimed the algorithm had self-corrected.
Jump Trading Named by SEC to Have Propped Up Terra - Inside Bitcoin9 May 2022
UST begins losing its dollar peg. The Terra blockchain is halted. LUNA collapses from ~$119 to near zero. Approximately $40–45 billion in market capitalization is wiped out within a week.
Terra (blockchain) - Wikipedia16 May 2022
Luna Foundation Guard reports its Bitcoin reserve has been depleted from approximately 80,394 BTC to 313 BTC following failed defense of the UST peg.
Luna Foundation Guard Left With 313 Bitcoin After UST Crash - CoinDesk16 February 2023
The U.S. SEC files a civil complaint against Terraform Labs and Do Kwon in the Southern District of New York, alleging multi-billion dollar securities fraud.
SEC Sues Terraform Labs, Do Kwon for Misleading Investors - CoinDeskMarch 2023
Do Kwon is arrested in Montenegro while allegedly attempting to travel on a forged passport.
Do Kwon - Wikipedia21 January 2024
Terraform Labs files for Chapter 11 bankruptcy in Delaware (Case No. 24-10070), listing assets and liabilities each between $100 million and $500 million.
Terraform Labs Files for Chapter 11 Bankruptcy - TechCrunch5 April 2024
A Manhattan jury unanimously finds Terraform Labs and Do Kwon liable on all counts of civil securities fraud after less than two hours of deliberation.
New York Jury Finds Do Kwon, Terraform Labs Liable for Fraud in SEC Case - CoinDesk12 June 2024
Terraform Labs and Do Kwon agree to pay a combined ~$4.47 billion to the SEC — the largest crypto enforcement settlement in SEC history at that time.
Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B - CoinDeskSeptember 2024
U.S. Bankruptcy Judge Brendan Shannon approves Terraform Labs' liquidation plan, establishing a Wind Down Trust. CEO Chris Amani announces complete wind-down and asks the Terra community to assume control of the blockchain.
Terraform Labs Gets Sign Off From US Bankruptcy Judge to Begin Winding Down - The Block27 December 2024
Montenegro's justice minister approves Do Kwon's extradition to the United States.
Do Kwon's U.S. Extradition Gets Okay From Montenegro's Justice Minister - CoinDesk31 December 2024
Do Kwon is transferred to U.S. custody.
Alleged TerraUSD Crypto Fraudster Do Kwon Facing U.S. Charges After Montenegro Extradition - UPIAugust 2025
Do Kwon pleads guilty to conspiracy to commit commodities fraud and wire fraud under a plea agreement recommending no more than 12 years in prison.
Do Kwon Pleads Guilty to Fraud Counts - Banking Dive11 December 2025
Do Kwon is sentenced to 15 years in federal prison. The court cites approximately $40 billion in losses and characterizes the scheme as 'a fraud on an epic, generational scale.'
Do Kwon Gets 15 Years in Prison for $40 Billion Terraform Fraud - BloombergDecision Log
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This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 21 of 26 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/8/2026, 2:31:06 AM
last updated: 5/8/2026, 2:31:06 AM
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