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International Business Times

World

M.B. Mack

South Korean Crypto Mogul Do Kwan Will Be Extradited to the United States to Face Charges for $40 Billion Crypto Crash

Crypto South Korea Terraform Labs The United States Do Kwon Montenegro

Montenegrin police officers of the PJP (Special Police Unit) escort South Korean cryptocurrency entrepreneur Do Kwon (C) at the exit of a court in Podgorica, Montenegro, on March 23, 2024. (Credit: SAVO PRELEVIC/AFP via Getty Images)

Montenegro approved the extradition of Do Kwon, the South Korean crypto mogul behind the $40 billion collapse of Terraform Labs, to the United States to face charges of fraud and financial crimes.

Kwon, the founder of Terraform Labs, was arrested in March 2023 in Montenegro while attempting to flee to Dubai with a fake passport, AP News reported.

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