Montenegro’s Minister of Justice Do Kwon signed the extradition to the United States

Montenegro will extradite Terraform Labs founder Do Kwon to the United States, according to new news on the topic.

On December 27, local news media reported that the development followed Montenegrin Justice Minister Bojan Bozovic's approval of Do Quo's extradition. Bozovic signed off on the extradition of the Terraform Labs founders to the United States a day after Montenegro's Constitutional Court rejected Do Kwon's constitutional appeal.

Do Kwon's appeal dismissed.

According to the court's decision, the decision whether to extradite the founder of Terraform Labs to South Korea or the United States remains in the hands of the country's justice minister.

In his appeal, Kwon said the extradition process was unfair and that there were errors in the interpretation of the law. However, the challenge did not sway the Constitutional Court, which rejected the appeal and the decision opened the final chapter in extradition.

South Korean Kwon has been under investigation from both the United States and South Korean law enforcement since the collapse of TerraUSD and Luna. The crypto projects are close to wiping out more than $40 billion in value from the crypto market by May 2022. A contagion that has engulfed many companies, including crypto lenders.

After Kwon was arrested in March 2023 in Montenegro, a lengthy extradition process began.

Terraform Labs agreed to a $4.5 billion settlement with the US Securities and Exchange Commission in June 2024, and its CEO has indicated that the project is winding down.