Montenegro on Tuesday extradited Terraform Labs co-founder Do Kwon to the United States, where he faces charges of having deceived investors about the stability of the TerraUSD cryptocurrency and how an app used the Terraform blockchain.

Montenegrin authorities extradited crypto entrepreneur Do Kwon to the United States on Sunday to face fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022.

South Korean-based Terraforms Labs wiped out $40 billion from the crypto market when its TerraUSD and Luna stable coins turned out to not be so stable and collapsed in May 2022. Kwon had already fled South Korea the month before.