Best Technology news & reviews
Latest
AI
Amazon
Apps
Biotech & Health
Climate
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
Fundraising
Gadgets
Gaming
Google
Government & Policy
Hardware
Instagram
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
Space
Startups
TikTok
Transportation
Venture
Events
Startup Battlefield
StrictlyVC
Newsletters
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
Posted:
Do Kwon, the co-founder of collapsed cryptocurrency startup Terraform Labs, will be extradited from Montenegro to the U.S. to face federal fraud charges, as first reported by Bloomberg.
Kwon faces charges in both the U.S. and South Korea; Terraform Labs’ TerraUSD and Luna cryptocurrencies crashed in 2022, causing investors to lose over $40 billion.
Terraform and Kwon were found personally liable for fraud following a civil trial on U.S. Securities and Exchange Commission allegations in April. Terraform agreed to pay $4.5 billion to settle 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 unclear when Montenegro plans on releasing Kwon to the U.S. and whether the government’s latest decision supersedes its order in August to extradite Kwon to South Korea.
Topics
Subscribe for the industry’s biggest tech news
Every weekday and Sunday, you can get the best of TechCrunch’s coverage.
TechCrunch's AI experts cover the latest news in the fast-moving field.
Every Monday, gets you up to speed on the latest advances in aerospace.
Startups are the core of TechCrunch, so get our best coverage delivered weekly.
By submitting your email, you agree to our Terms and Privacy Notice.
© 2024 Yahoo.
Terraform Labs co-founder Do Kwon will face fraud charges in the US
RELATED ARTICLES