- Montenegro has completed the extradition of Do Kwon, the founder of collapsed crypto project TerraUSD/Luna.
- Kwon was arrested in Montenegro in 2023 and unsuccessfully fought extradition to the US.
- He is also wanted in South Korea over Terra’s $40 billion crypto implosion in 2022.
Montenegro has finalized the extradition of Terraform Labs founder Do Kwon to the United States, Montenegro Prime Minister Milojko Spajic has said.
The extradition comes just days after Montenegro’s Justice Minister Bojan Božović signed the extradition, with this coming on the back of the country’s Constitutional Court rejecting Do Kwon’s appeal.
Montenegro Prime Minister confirms Kwon extradition
“Today Montenegro completed the extradition of Do Kwon to the United States to face charges in the Terra/Luna case. Our nation welcomes innovation and legitimate crypto, AI and other tech entrepreneurs – but we have zero tolerance for fraud. This extradition demonstrates our unwavering commitment to international justice and the rule of law!” the Prime Minister said.
Montenegro police arrested Kwon in 2023 while the Terraform Labs founder was on the run following the 2022 collapse of TerraUSD and Luna.
The collapse saw over $40 billion worth of value wiped out, heralding contagion that hit multiple other crypto projects and saw millions of users lose money.
After failing to ward off the extradition, Kwon will now face charges of fraud and others in the US.
In April 2024, Terraform and Kwon agreed to a $4.5 billion settlement with the Securities and Exchange Commission.
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