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Do Kwon , the Colorado - founder of collapsed cryptocurrency inauguration Terraform Labs , will be extradited from Montenegro to the U.S. to face federal fraud charge , as firstreportedby Bloomberg .
Kwon faces charges in both the U.S. and South Korea ; Terraform Labs ’ TerraUSD and Luna cryptocurrencies crashed in 2022 , causing investor to misplace over $ 40 billion .
Terraform and Kwon were found personally nonresistant for sham following a civil trial on U.S. Securities and Exchange Commission allegement in April . Terraformagreed to make up $ 4.5 billion to steady down the case with the SEC .
Kwon was arrested in March 2023 at the airport in Podgorica , the Montenegrin capital , while preparing to board a flight to Dubai . It ’s undecipherable when Montenegro plans on issue Kwon to the U.S. and whether the authorities ’s latest decisiveness supplant its gild in August to extradite Kwon to South Korea .
