Do Kwon, the founder of Terraform Labs in South Korea, has been extradited to the United States.
Authorities in the country accuse Do Kwon of orchestrating a multi-billion dollar cryptocurrency scam after the collapse of his companies Terrausd and Luna cryptocurrencies in 2022. The collapse resulted in market losses totaling billions of dollars.
Do Kwon fled South Korea after a warrant was issued for his arrest, ultimately being captured in Montenegro. After a lengthy legal battle, Montenegro approved his extradition to the United States in December.
The extradition of Do Kwon to the United States marks the end of a long legal struggle, as Do Kwon faces cryptocurrency fraud charges in the U.S.