Do Kwon is to be extradited to South Korea after a Montenegrin court rejected his appeal.

Montenegro's appeals court rejected Do Kwon's appeal against his impending extradition to South Korea.
Kwon was arrested last year following the collapse of 2022 Terra Luna and stablecoin UST.

Do Kwon Teran, wanted for his role in the sinking implosion, has now been extradited to South Korea.

The Montenegrin court rejected Kuo's appeal.

Today, Montenegro's Court of Appeal rejected Kwon's appeal for an extradition order to South Korea. The Court of Appeal announced in a March 20 announcement that its decision is final.

In the year He will not go to the United States in 2023 or stay in Montenegro.

Instead, Kwon will now be deported to South Korea to face criminal charges related to the collapse of Terra LUNA and the algorithmic stablecoin Terra USD (UST).

The $40 billion implosion by crypto hedge fund Three Arrows Capital has caused a major contagion in crypto. 3AC was a huge blow that caused more losses to investors in the crypto ecosystem.

Kwon has been in custody in Montenegro since his arrest in May last year. Montenegro's top court approved his extradition in November, and his extradition to the United States was reversed last month.

Both the U.S. and South Korea are eager to find Do Kwon, and Seoul recently requested Interpol's help.

Crypto bosses in trouble

In this latest development, the wanted former CEO of Terraform Labs is headed to South Korea. He is one of several former crypto bosses who have faced charges in the past two years.

FTX's former CEO, Sam Bankman-Fried, was found guilty by a jury in early November. He will be sentenced on March 28, with U.S. prosecutors seeking a sentence of 40-50 years in prison.

Former Binance CEO Changpeng Zhao pleaded guilty to anti-money laundering charges last year and is awaiting sentencing in the US.