The co-creator of the cryptocurrency platform Terraform Labs PTE Ltd. (Terraform) has been extradited to face $40B fraud charges. Do Hyeong Kwon, 33, a citizen of the Republic of Korea, was subject to an extradition order from Montenegro and appeared in a Manhattan court to face federal fraud charges.

Terraform Labs co-founder Do Kwon has pleaded not guilty to U.S. fraud charges after being extradited from Montenegro.

Do Kwon, the co-founder of collapsed cryptocurrency startup Terraform Labs, will be extradited to the U.S. to face federal fraud charges.