Montenegro on Tuesday extradited Terraform Labs co-founder Do Kwon to the United States, where he faces charges of having deceived investors about the stability of the TerraUSD cryptocurrency and how an app used the Terraform blockchain.

Montenegro on Tuesday extradited a South Korean mogul known as “the cryptocurrency king” to the United States, following a decision of its justice ministry earlier this month to accept a U.S. request,

The South Korean co-founder of Terraform Labs had been on the run following fraud allegations over the cryptocurrencies he developed.

SARAJEVO (Reuters) -Montenegrin Justice Minister Bojan Bozovic has ordered the extradition of Terraform Labs co-founder Do Kwon, also wanted by South Korea, to the United States, the ministry said on Friday.

Montenegro has completed the extradition of Do Kwon, the founder of collapsed crypto project TerraUSD/Luna. Kwon was arrested in Montenegro in 2023 and unsuccessfully fought extradition to the US. He is also wanted in South Korea over Terra’s $40 billion crypto implosion in 2022.

Montenegro has extradited South Korean crypto mogul Do Kwon to the United States, where he will stand trial for allegations related to the 2022 collapse of some crypto coins, reports said Tuesday. Montenegrin police handed Kwon over to U.