TechFlow news, December 31 — According to Bloomberg, Montenegrin Prime Minister Milojko Spajic announced on social media that the extradition process for Do Kwon, co-founder of Terraform Labs, to the United States has been completed. Do Kwon faces charges in both New York and Seoul over the 2022 collapse of the $40 billion TerraUSD stablecoin. He was arrested in Montenegro in 2023 for using forged passports. In April this year, the U.S. Securities and Exchange Commission (SEC) succeeded in its fraud allegations against him, and Terraform Labs has agreed to pay $4.5 billion to settle the case.
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