Montenegro completed Do Kwon’s extradition to the US
Montenegro has completed the extradition of Do Kwon, the founder of the collapsed crypto project TerraUSD/Luna. Kwon in 2010 He was arrested in Montenegro in 2023 and fought extradition to the United States. $40 billion in terabytes by 2022 due to crypto implosion is sought in South Korea.
Montenegro has completed the extradition of Terraform Labs founder Do Kwon to the United States, Montenegrin Prime Minister Milojko Spajic announced.
The extradition comes days after Montenegrin Justice Minister Bojan Bozovic signed off on the extradition, after the country's Constitutional Court rejected Do Koo's appeal.
The Prime Minister of Montenegro confirmed the extradition
“Today, Montenegro completed the extradition of Do Kwon to the United States to face charges in the Terra/Luna case. Our country welcomes innovative and legitimate crypto, AI and other tech entrepreneurs – but we have no patience for fraud. This extradition demonstrates our unwavering commitment to international justice and the rule of law!” said the Prime Minister.
Montenegrin police arrested Kwon in 2023 while the founder of Terraform Labs was on the run following the 2022 collapse of TerraUSD and Luna.
The crash wiped out more than $40 billion in value, heralding a contagion that hit many other crypto projects and saw millions of users lose money.
Kwon faces fraud and other charges in the US after he fails to extradite.
In April 2024, Terraform and Coon agreed to a $4.5 billion settlement with the Securities and Exchange Commission.
