The extradition of Terra founder Do Koon has been approved by a court in the Montenegrin capital, Podgorica—although a final decision on whether he should be extradited to the US or South Korea has yet to be made.
According to current information posted on the website of Montenegro's courts, Kuo's extradition will continue pending a final decision by the country's justice minister, who will decide which country will take priority. Do Kwon will first serve a four-month sentence in Montenegro for document forgery before being extradited.
Do Kwon has been caught in a fight between his home country of South Korea and the United States since he was arrested in Montenegro earlier this year for allegedly trying to travel with a fake passport.
Co-Founder of Terra The 2022 lawsuit follows the collapse of Terra Algorithm's stablecoin TerraUSD (TUSD) and its native cryptocurrency Luna, which wiped nearly $40 billion from the crypto market and triggered a months-long bear market.
South Korean investigators have argued that Do Kwon should stand trial in his home country, citing key evidence and co-conspirators in the case. But Kwon faces criminal fraud charges in the United States, along with a civil suit filed by the Securities and Exchange Commission (SEC).
Do Kwon's lawyers filed a motion to dismiss the SEC's lawsuit, arguing that TUSD is a currency rather than a security. “
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