Do Kwon, former crypto darling and now fugitive, was arrested in Montenegro this March while attempting to flee to Dubai. The High Court in Podgorica, the Montenegrin capital, has now given approval for Do Kwon's extradition, though whether he'll be off to South Korea or the US, both of which have open arrest warrants for him, remains to be decided.
Do Kwon was the main player and public face of the TerraUSD stablecoin and the self-described "Lunatic" driving the Luna cryptocurrency. You can probably tell where this is going. The more-or-less overnight collapse of both caused a loss of around $40 billion on crypto markets and was the major factor behind the 2022 catastrophe-slash-contagion that saw FTX go under, with its founder Sam Bankman-Fried now facing a lengthy jail sentence, and a multitude of other crypto firms go bust.
