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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 <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-jones-12-07-2023/card/exclusive-montenegro-plans-to-extradite-fallen-crypto-tycoon-do-kwon-to-u-s--go9pVSEoANWEjPKGAfD6?mod=Searchresults_pos1&amp;page=1" rel="noopener noreferrer nofollow">recent report</a> by The Wall Street Journal. &nbsp;
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 <a href="https://u.today/terra-founder-do-kwons-arrest-confirmed-by-korean-officials" rel="noopener noreferrer nofollow">arrested</a> 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.

Terra's Do Kwon to Face Extradition Nightmare

U_Today

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