Terraform Labs Do Kwon Faces Extradition to the U.S.

HomeMarket News

Terraform Labs Do Kwon Faces Extradition to the U.S.

Montenegro’s top Justice Minister has revealed plans to extradite Do Kwon, Terraform Labs co-founder to the United States. He asserted that he rather

Montenegro’s top Justice Minister has revealed plans to extradite Do Kwon, Terraform Labs co-founder to the United States. He asserted that he rather send Do Kwon to the U.S. to face charges than South Korea.

According to a recent report by The Wall Street Journal, Andrej Milovic – Montenegro’s Justice Minister, has privately hinted that he intends to send the disgraced crypto giant Do Kwon who has been jailed in Balkan since March.

Both the United States and South Korea have been fighting for Kwon’s custody as both countries wish to extradite him to face criminal charges.

Advertisement

thegreensafe banner

Kwon, a citizen of South Korea, is being prosecuted in the United States for fraud and breaking securities laws in connection with the crumbling of his cryptocurrency ventures, Luna and TerraUSD, which caused an incredible $40 billion market meltdown in May 2022.

Minister Andrej Milovic to make final decision

Meanwhile, Kwon had initially been approved for extradition last month by a Montenegro court, however, the decision to send him to the United States or South Korea was left in the hands of Minister Milovic.

Besides, until Montenegro’s courts rule on Kwon’s latest appeal against the extradition ruling, the minister’s decision will be on hold.

Recall that Do Kwon was arrested in March 2023 alongside the former finance officer of Terraform Labs, Han Chang-Joon. They were both charged with forgery, using fake passports while trying to board a flight heading to Dubai.

An arrest warrant for Do Kwon was issued back in September 2022. Following that, the crypto tycoon was also issued a red notice by the International Police (Interpol).

Notably, Kwon made several attempts to minimize the seriousness of his situation, claiming that he was not on the run even though he refused to divulge his whereabouts. Seoul Southern district persecution office found out in November that Do Kwon had run away to Serbia.

Advertisement

thegreensafe large horizontal banner

Read also: 

Special Offer (SPONSORED)

Binance Free $200 (Exclusive): Use this link to register and receive $200 free trading fee credit (terms).

"3Commas Trading Bot" Special Offer: Use this link to Sign up with 3Commas and get 10% off your first monthly subscription.