Montenegro's Justice Minister Bojan Bojovic has ordered the extradition of the co-founder of the blockchain platform “Terraform Labs“ Do Kwon to the United States, Reuters reported, citing a statement on the ministry's official website.
Do Kwon, called the “cryptocurrency king“, is also wanted by his homeland South Korea. He was arrested in March 2023 in Montenegro on an international arrest warrant in connection with the collapse of the “Terraform Labs“ cryptocurrency in May 2022, which cost investors around the world about $40 billion. Both South Korea and the United States have requested Kwon’s extradition from Montenegro.
On February 22, a court in Montenegro ruled that the founder of blockchain platform “Terraform Labs“ Do Kwon should be extradited to the United States, where he will stand trial on fraud charges, rather than to his native South Korea. In August of this year, the Montenegrin Supreme Court postponed his extradition.
After the Supreme Court ruled that all legal conditions for Do Kwon’s extradition were met, the Ministry of Justice concluded that the majority of legal criteria were in favor of the US request, and therefore Bozovic signed a decision to send him to the United States, the ministry said in a statement.