Montenegro Justice Minister Andrej Milovic has indicated plans to extradite Do Kwon, the beleaguered founder of Terraform Labs, to the United States, according to a recent report by The Wall Street Journal.
This decision comes amid an international dispute over Kwon's custody, with both the U.S. and South Korea vying for his extradition.
Kwon, a South Korean national, is facing charges in the U.S. for fraud and violations of securities laws relating to the collapse of his cryptocurrencies, TerraUSD and Luna, which led to a staggering $40 billion market crash in May 2022.
A Montenegro court approved Kwon's extradition last month, leaving the final decision to Minister Milovic. The minister's decision is pending until Montenegro's courts reach a verdict on Kwon's recent appeal against the extradition ruling.
Kwon was arrested in Podgorica in March along with Han Chang-joon, former finance officer of Terraform Labs. They were charged with using forged passports while attempting to board a flight to Dubai. Both were sentenced to four months in prison by a Montenegrin court.
Vladislav Sopov
Gamza Khanzadaev
Denys Serhiichuk
