Terraform Labs co-founder Do Kwon will be extradited from Montenegro to the United States to face federal fraud charges, according to reports. The move comes after a civil trial found Terraform Labs and Kwon personally liable for fraud in April. In August, Montenegro had previously ordered Kwon’s extradition to South Korea, but it’s unclear if this new decision supersedes that order.
Kwon was arrested in March 2023 at Podgorica airport while preparing to board a flight to Dubai. The news comes amidst the backdrop of Terraform Labs’ failed cryptocurrencies, TerraUSD and Luna, which crashed in 2022, resulting in investor losses totaling over $40 billion.
Source: https://techcrunch.com/2024/12/27/terraform-labs-co-founder-do-kwon-will-face-fraud-charges-in-the-u-s