Do Kwon Faces Extradition to U.S. for Charges Tied to the TerraUSD and Luna Collapse: WSJ

The blowups of his UST and LUNA tokens fueled a crisis that gripped the whole crypto industry in 2022, causing losses that reverberated far and wide.

AccessTimeIconDec 7, 2023 at 5:33 p.m. UTC
Updated Jan 26, 2024 at 3:53 p.m. UTC
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A senior official in Montenegro plans to extradite Do Kwon to the U.S. to face criminal charges tied to the collapse of his terraUSD (UST) stablecoin and Luna (LUNA) token, The Wall Street Journal reported Thursday.

The blowups of UST and LUNA, which Kwon created, fueled a crisis that gripped the whole crypto industry in 2022, causing losses that reverberated far and wide.

Kwon has been imprisoned in Montenegro for months, stuck amid a fight over competing desires by U.S. and South Korean officials to try him. The Journal, citing people familiar with the matter, reported that Montenegro Justice Minister Andrej Milović has privately said he has decided to send him to the U.S. to face fraud and securities-law charges.

Edited by Nikhilesh De.


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