In a significant legal development, Terraform Labs co-founder Do Kwon is set to be extradited to the United States from Montenegro, bypassing South Korea's extradition request. This decision follows Kwon's arrest for a $40 billion cryptocurrency fraud. Facing severe charges in the U.S., including wire, commodities, and securities fraud, Kwon's extradition marks a pivotal moment in addressing crypto-related crimes.

The case underlines the international legal cooperation and the U.S.'s rigorous stance on financial fraud, setting a precedent for future cryptocurrency litigation and regulatory scrutiny.

According to the High Court's ruling, "crypto king" Do Kwon, will be extradited to the United States to face criminal charges related to financial operations. This decision comes after the court rejected South Korea's request for his extradition, following an Appeals Court directive to determine whether Kwon would be sent to South Korea or the U.S.