Alleged crypto fraudster Do Kwon was facing multiple federal charges in the United States Thursday after being extradited from Montenegro. He was a fugitive wanted in the 2022 $40 billion TerraUSD collapse.

Kwon's Terraform Labs developed the luna cryptocurrency and stablecoin terraUSD, which folded in 2022, losing an estimated $40 billion

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 has approved the extradition of a South Korean mogul known as “the cryptocurrency king” to the United States.

Montenegro extradited crypto mogul Do Kwon to the U.S. after rejecting South Korea's request. Kwon, founder of Terraform Labs, faces U.S. fraud charges tied to a $40 billion crypto crash that hurt investors globally.

Terraform Labs co-founder Do Kwon has pleaded not guilty to U.S. fraud charges after being extradited from Montenegro.

Do Hyeong Kwon, the 33-year-old co-founder and former CEO of Terraform Labs, has been extradited from Montenegro to the United States to face serious fraud charges. Kwon’s involvement in the collapse of cryptocurrencies linked to Terraform caused devastating losses,

Korean crypto mogul Do Kwon pleaded not guilty Thursday to criminal fraud charges after he was extradited to the United States from Montenegro earlier this week, according to media reports.