Kwon's Terraform Labs developed the Luna cryptocurrency and stablecoin TerraUSD, which capitulated in 2022, losing an estimated $40 billion.

Authorities say Do Hyeong Kwon, former CEO of Terraform Labs, appeared in a Manhattan federal courtroom Thursday after facing extradition from Montenegro over

Terraforms Labs CEO Do Kwon spent the last day of 2024 getting extradited to the US, Reuters reports. Kwon faces charges in the US for "orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.

Terraform cryptocurrency boss Do Kwon is on trial in a US court for fraud. Although he confessed, he does not consider himself guilty.

Do Kwon, the co-founder of collapsed cryptocurrency startup Terraform Labs, will be extradited to the U.S. to face federal fraud charges.

A new indictment unsealed on Thursday adds a new count of money laundering to the eight original charges announced last year against Kwon — which included securities, commodities and wire fraud — over Terraform Labs’ 2022 collapse,

Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, pleaded not guilty on Thursday to U.S. criminal fraud charges after being extradited from Montenegro this week.

Alleged crypto fraudster Do Kwon was facing multiple federal charges in the United States Thursday after being extradited from Montenegro. He was a fugitive wanted in the 2022 $40 billion TerraUSD collapse.

NEW YORK >> Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, pleaded not guilty today to U.S. criminal fraud charges, after being extradited from Montenegro this week.