- Montenegro has finalized the extradition of Do Kwon, the founding father of the collapsed crypto venture TerraUSD/Luna.
- Kwon was arrested in Montenegro in 2023 and unsuccessfully fought extradition to america.
- He’s additionally needed in South Korea for Terra's $40 billion crypto implosion in 2022.
Montenegro has finalized the extradition of Terraform Labs founder Do Kwon to america, Montenegrin Prime Minister Milojko Spajic mentioned.
The extradition comes simply days after Montenegro's Justice Minister Bojan Božović signed the extradition, with the transfer coming because the nation's Constitutional Courtroom rejected Do Kwon's attraction.
Prime Minister of Montenegro confirms Kwon's extradition
“Immediately, Montenegro finalized the extradition of Do Kwon to america to face expenses within the Terra/Luna case. Our nation welcomes innovation and bonafide entrepreneurs in crypto, AI and different applied sciences – however we’ve zero tolerance for fraud. This extradition demonstrates our unwavering dedication to worldwide justice and the rule of legislation! mentioned the Prime Minister.
Police in Montenegro arrested Kwon in 2023 because the Terraform Labs founder was on the run following the collapse of TerraUSD and Luna in 2022.
The collapse led to the disappearance of greater than $40 billion in worth, heralding a contagion that affected a number of different crypto tasks and noticed hundreds of thousands of customers lose cash.
After failing to forestall extradition, Kwon will now face fraud and different expenses in america.
In April 2024, Terraform and Kwon agreed to a $4.5 billion settlement with the Securities and Alternate Fee.
