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.

Montenegro has approved the extradition of a South Korean mogul known as “the cryptocurrency king” to the United States.

Do Kwon, the founder of the Terra crypto ecosystem, pleaded not guilty to criminal charges in a New York court after being extradited from Montenegro. The collapse of Terra in 2022 led to a $40 billion loss for investors, with allegations of securities fraud and money laundering against Kwon.

Terra Classic (CRYPTO: LUNC), the native token of the Terra ecosystem, rallied on New Year’s Day amid disgraced co-founder Do Kwon’s extradition from Montenegro to the U.S.

By Luc Cohen NEW YORK (Reuters) -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.

Terraform Labs Pte. co-founder Do Kwon pleaded not guilty to US fraud charges tied to the $40 billion collapse of the TerraUSD stablecoin.

South Korean cryptocurrency mogul Do Kwon has pleaded not guilty to a freshly unsealed indictment released in time for his first U.S. court appearance

By Luc Cohen NEW YORK (Reuters) -Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was set to appear in U.S. court on Thursday to face criminal fraud charges after being extradited from Montenegro this week.