Crypto Fugitive Do Kwon Faces Extradition to U.S. and South Korea
Do Kwon, co-founder of the failed Terra/Luna crypto ecosystem, has been arrested in Montenegro and faces extradition to the US and South Korea. He has been indicted on charges of commodities fraud, securities fraud, and wire fraud related to his time pushing the Terra/Luna crypto ecosystem. Kwon allegedly lied to customers and investors about the number of people using the ecosystem. South Korean authorities have been trying to get their hands on Kwon, who has had his passport revoked. Kwon's arrest may lead to two big crypto-centric court battles, as FTX's Sam Bankman-Fried is also gearing up for his first day in court later this year.