Do Kwon, co-founder of failed cryptocurrency startup Terraform Labs, can be extradited from Montenegro to the US to face federal fraud prices, as first reported by Bloomberg.
Kwon faces prices in each the US and South Korea; Terraform Labs' TerraUSD and Luna cryptocurrencies crashed in 2022, inflicting traders to lose greater than $40 billion.
Terraform and Kwon had been discovered personally answerable for the fraud after a civil trial primarily based on allegations by the US Securities and Trade Fee in April. Terraform agreed to pay $4.5 billion to settle the case with the SEC.
Kwon was arrested in March 2023 on the airport in Podgorica, the capital of Montenegro, whereas getting ready to board a flight to Dubai. It’s unclear when Montenegro plans to launch Kwon to the US and whether or not the federal government's newest choice supersedes its August order to extradite Kwon to South Korea.
