South Korean Crypto Developer Do Kwon Arrested and Charged with Fraud by US Authorities

South Korean prosecutors are seeking the extradition of Do Kwon, the co-founder of cryptocurrency Terraform Labs, who was arrested in Montenegro for attempting to travel to Dubai with a forged passport. Kwon faces charges related to fraud and breaches of South Korea’s capital markets law, as well as securities fraud, wire fraud, commodities fraud, and conspiracy charges in the United States. Both countries are seeking his extradition, but it is unclear if Montenegro will agree to the requests. Kwon became a wanted man in 195 countries after Interpol issued a red notice on him in September 2022.