Key Takeaways
- Montenegro agreed to extradite Do Kwon to the US.
- Kwon faces charges over the $40 billion collapse of the Terra ecosystem.
Montenegro's justice minister, Bojan Bozovic, has allowed Terraform Labs co-founder Do Kwon to be extradited to the United States, following the Supreme Court's decision and legal evaluation.
“The Ministry of Justice investigated all the facts and circumstances, including the seriousness of the crimes, the jurisdiction of the crimes, and the additional requests. Most of the criteria were for the US request,” the ministry said.
While the US request was accepted, South Korea's additional request was rejected.
Kwon and his business partner Han Cheng Jun were arrested in March 2023 at Podgorica Airport while trying to travel to Dubai using forged passports.
Kwon served a four-month prison sentence in Montenegro for falsifying documents.
The expansion stems from investigations into the collapse of TerraUSD and Luna in May 2022, which wiped $40 billion from the crypto market and triggered disruptions across the industry.
US authorities claim that Kwon defrauded investors and believe he is hiding substantial assets.
After completing his prison term, Kwon was transferred to the Shelter for Foreigners in Montenegro, where he is awaiting further processing.
Source: https://cryptobriefing.com/do-kwon-extradition-confirmed/
