Do Kwon, the co-founder of the collapsed cryptocurrency firm Terraform Labs, will be extradited to the US to face federal fraud charges, as reported earlier by Bloomberg. The Montenegro Ministry of Justice announced the decision on Friday, which comes more than one year after the authorities arrested Kwon in the country.

South Korean cryptocurrency entrepreneur Do Kwon will be extradited to the United States from Montenegro over the collapse of two digital tokens - TerraUSD and Luna tokens.

Do Kwon, whose TerraUSD and Luna cryptocurrencies collapsed in a $40 billion crash in 2022, should be extradited to the U.S. rather than his native South Korea, according to a dec

Kwon’s company promised stability for TerraUSD, pegged to the US dollar, but the tokens entered a “death spiral” in 2022, destabilising global crypto markets and eroding investor confidence

Montenegro's Minister of Justice, Bojan Božović, said in a statement he approved the Terraform founder's extradition to the U.S. rather than South Korea.

Montenegro will extradite to the United States South Korean cryptocurrency specialist Do Kwon, who is also wanted by Seoul for the multi-billion-dollar bankruptcy of his company, Terraform Labs, the Montenegrin Justice Ministry announced on Friday.

Montenegro has approved the extradition of a South Korean mogul known as “the cryptocurrency king” to the United States, the Balkan country's Justice Ministry said on Friday. Minister Bojan Bozovic has issued a deposition allowing the handover of Do Kwon,