Montenegrin authorities on Sunday extradited crypto entrepreneur Do Kwon to the United States, where he faces fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022.
According to a Reuters report, Kwon, co-founder of Terraform Labs, was arrested in Montenegro last March while trying to board a flight with a fake Costa Rican passport.
He had evaded the authorities since his cryptocurrencies TerraUSD and Luna crashed in May 2022.
The extradition came after the Montenegrin Constitutional Court rejected Kwon’s final appeal.
“It was found that the majority of the statutory criteria support the extradition request from the relevant authorities of the United States of America.
“As a result, the Attorney General issued a decision authorizing the extradition of Kwon Do Hyung to the United States, while simultaneously denying the Republic of Korea’s extradition request.”
Kwon faces multiple charges in the US, including fraud and conspiracy. He also faces similar charges in South Korea.
Kwon’s Terraform Labs have developed TerraUSD, a “stablecoin” designed to maintain a constant value of $1. Its collapse triggered a…
