CEO behind $40 billion cryptocurrency crash sentenced to prison in Montenegro for forged passports

Founder of cryptocurrency firm Terraform Labs, Do Kwon, and another South Korean citizen sentenced to four months in prison in Montenegro for using forged documents.
Kwon was arrested in Montenegro in March on an international arrest warrant in connection with the $40 billion crash of Terraform Labs’ cryptocurrency.
South Korea and the United States have requested his extradition from Montenegro, but the courts are yet to decide on those requests in separate proceedings.
Kwon and the other man were arrested at Podgorica Airport while trying to fly to Dubai using fake Costa Rican passports.
Kwon and five others connected to Terraform are wanted on allegations of fraud and financial crimes in relation to the implosion of the firm’s digital currencies in May 2022.