Crypto Mogul Do Kwon Extradited to U.S. Over $40 Billion Collapse

The Terraform Labs co-founder faces fraud and conspiracy charges following the catastrophic failure of TerraUSD and Luna tokens in 2022.

Do Kwon, co-founder of Terraform Labs, has been extradited from Montenegro to the United States to face criminal charges.
The U.S. has accused Kwon of orchestrating a multi-billion dollar securities fraud tied to the collapse of TerraUSD and Luna cryptocurrencies.
Terraform Labs' collapse in May 2022 wiped out $40 billion in investor funds and triggered a broader downturn in the cryptocurrency market.
Montenegro approved Kwon's extradition after he was arrested in March 2023 for attempting to board a flight using forged documents.
Both the U.S. and South Korea sought Kwon's extradition, with the U.S. now set to prosecute him for fraud and conspiracy charges.