Do Kwon, the founder of Terraform Labs from South Korea, has been handed over to U.S. authorities. He's being accused of masterminding a massive crypto fraud scheme that led to the collapse of his company's cryptocurrencies, Terrausd and Luna, back in 2022. This fiasco resulted in billions in market losses.
The Terraform Labs debacle significantly impacted crypto investors worldwide, shaking confidence in similar digital assets. Kwon's extradition signifies a strong international stance on tackling crypto fraud and holding those accountable responsible for such financial turmoil.
