Do Kwon, co-founder of the defunct cryptocurrency firm Terraform Labs, is set to be extradited from Montenegro to the United States to face federal fraud charges. This follows his arrest in March 2023 while attempting to travel to Dubai. Kwon is also facing charges in South Korea after the collapse of Terraform's cryptocurrencies, which led to over $40 billion in losses for investors. Following a civil trial, Terraform agreed to pay $4.5 billion to settle SEC allegations, with Kwon found personally liable for fraud.