Montenegro's Minister of Justice signed an order to extradite Terraform Labs founder Do Kwon to the United States, rejecting South Korea’s request. This decision followed Montenegro's Supreme Court ruling, confirming legal criteria for extradition were met.
Kwon is under investigation in both the US and South Korea for his role in a major cryptocurrency collapse in May 2022, when TerraUSD and Luna's crash wiped $40 billion from the market. Authorities allege Kwon deceived investors and concealed assets.
Extradition could transform how international crypto fraud cases are managed. Also, Terraform Labs agreed to a historic settlement with the SEC, committing to pay $4.47 billion in penalties. Kwon, personally ordered to pay over $200 million, faces controversy due to alleged political ties in Montenegro.
