The story of Do Kwon has become a collective memory in the entire crypto space—and the most painful one.

The Terra ecosystem was once glorious, and the collapse of LUNA was equally devastating. This is not just a story of a token falling from a high point to zero, but a severe shakeup of the trust foundation of the entire industry.

Once hailed as a genius, Do Kwon now faces up to 15 years in prison. How drastic is this change? Imagine the stark contrast from being worshipped on a pedestal to being nailed to a shameful cross.

The numbers tell the story clearly: hundreds of billions of dollars in market value vanished in days, and the wealth and dreams of millions of investors worldwide shattered. This has long surpassed the realm of "investment losses" and has become a systemic disaster with real-life consequences.

What has the industry learned from this upheaval?

First, no return is truly risk-free. Projects promising high yields often hide risks beyond your imagination. This is not a new principle, but LUNA painfully inscribed it into everyone's minds in the most brutal way.

Second, personal idolization is the most dangerous trap in the crypto world. Betting all chips on someone's "genius narrative" is no different from gambling in a casino. Even the smartest people can be mistaken. Code can lie, economic models can collapse, but stories are always the most tempting—and that is the core problem.

Third, a more practical lesson: transparent mechanisms always outperform flashy marketing. In the face of cold logic from mathematics and economics, even the most exquisite whitepapers seem flimsy.

The world of cryptocurrency will continue to evolve, with new projects and opportunities emerging endlessly. But LUNA has become a permanent symbol—a costly lesson about greed, blind trust, and systemic risk.

The legacy of this billion-dollar disaster to the industry is: build responsibly, and maintain skepticism about everything.