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.

Disgraced crypto tycoon Do Kwon, a key figure related to the 2022 collapse of TerraUSD and Luna coins, has been extradited to the United States, where he will face federal fraud charges.

PODGORICA, Montenegro (AP) — Montenegro on Tuesday extradited a South Korean mogul known as “the cryptocurrency king” to the United States, following a decision of its justice ministry earlier this month to accept a U.S. request, while refusing a South Korean handover plea, the Balkan country’s authorities said.