On March 7, according to market news, Nevin Shetty (42), a man from Washington State, USA, secretly transferred $35 million of company funds to his own DeFi platform HighTowerTreasury while serving as CFO of a private software company. He invested in a high-yield lending protocol, but the funds were almost wiped out due to the Terra crash. The incident led to the company laying off 60 employees and nearly going bankrupt. Shetty was convicted of four counts of wire fraud, sentenced to two years in prison, ordered to pay $35 million in restitution, and will be under supervision for three years after release, during which he is prohibited from holding any executive position in any company without approval.