Do Kwon Extradited to US for Fraud Charges

Do Kwon, the co-founder of Terraform Labs, has been extradited from Montenegro to the United States after being implicated in a cryptocurrency crisis that resulted in approximately $40 billion in investor losses. Kwon is accused of orchestrating fraud related to the collapse of his company's cryptocurrencies, TerraUSD and Luna, which contributed to a significant downturn in the global crypto market. Following his arrest in March 2023 while attempting to flee on a fake passport, Kwon faced a lengthy legal battle over extradition. Montenegro's Justice Minister approved the extradition after a year and a half of court proceedings, demonstrating the country's commitment to international justice. Kwon's legal team has expressed intentions to appeal the decision, claiming it contravenes European extradition conventions. He is also wanted in South Korea for the same fraud-related charges.