Do Kwon, the South Korean crypto entrepreneur behind the TerraUSD and Luna collapse, has been extradited to the United States. He faces charges of defrauding investors and orchestrating a multi-billion dollar crypto securities fraud. Kwon, who fled South Korea after the Terra ecosystem imploded in 2022, was arrested in Montenegro and fought extradition. He is accused of misleading investors about the stability of TerraUSD and the Terraform blockchain.
Do Kwon , the South Korean crypto baron and fugitive, has been extradited to the United States after going on the run in late 2022. Kwon was the man behind the company Terraform , which ran theTerraUSD and Luna, both of which collapsed in 2022. That sparked a contagion in the wider crypto market, and they're estimated to have cost investors $40 billion USD.
But in December 2024 the Montenegrin Ministry of Justice approved his extradition to the United States, the Supreme Court having ruled all conditions were fulfilled, and claims Do Kwon himself agreed to it. The onetime king of crypto was handed over to the Feds at Podgorica airport, added Montenegro's interior ministry in a statement.
Kwon has denied any wrongdoing until this point, though his plea could change now that he's in the US justice system.
Cryptocurrency Fraud Do Kwon Terraform Extradition
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