Do Kwon, the co-founder of Terraform Labs, a bankrupt cryptocurrency startup, shall be extradited from Montenegro to america to face federal fraud fees, initially. reported by Bloomberg.
Kwon faces fees in america and South Korea; Terraform Labs’ TerraUSD and Luna cryptocurrencies collapsed in 2022, inflicting traders to lose greater than $40 billion.
Terraform and Kwon had been discovered personally accountable for fraud following a civil trial over allegations by the U.S. Securities and Change 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 Montenegrin capital, as he was getting ready to board a flight to Dubai. It’s unclear when Montenegro plans to launch Kwon to america and whether or not the federal government’s newest transfer replaces its August order to extradite Kwon to South Korea.
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