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Nearly a year after his arrest in Montenegro, Terraform Labs co-founder and former CEO Do Kwon is reportedly set to be extradited to the United States to face criminal charges.to local news outlet Pobjeda, on Feb. 21, the Podgorica High Court in Montenegro decided that Do Kwon would be extradited to the United States, thereby ruling out an extradition request from South Korea.
The US Securities and Exchange Commission accused Terraform Labs and Kwon of “orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities” after the crash of UST in 2022, which led to massive losses for investors.in the trial date regarding the Terraform case as requested by Kwon’s legal team, who said that they wanted their client to attend in person.
It is, however, not certain when Kwon will be moved to the United States. Meanwhile, Terraform Labs’ former financial officer Han Chang-joon, who was arrested alongside Kwon, has been extradited to South Korea.What is Farcaster? Everything You Need to KnowOne Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.
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