- Montenegro has accomplished the extradition of Do Kwon, the founding father of collapsed crypto challenge TerraUSD/Luna.
- Kwon was arrested in Montenegro in 2023 and unsuccessfully fought extradition to the US.
- He’s additionally needed in South Korea in reference to a $40 billion crypto bust of Terra in 2022.
Montenegrin Prime Minister Milojko Spajic has stated that Montenegro has finalized the extradition of Terraform Labs founder Do Kwon to america.
The extradition comes simply days after Montenegro’s Justice Minister Bojan Bozovic signed extraditionTogether with this, the nation’s Constitutional Courtroom rejected Do Kwon’s enchantment.
Prime Minister of Montenegro confirms Kwon extradition
“Right this moment Montenegro accomplished the extradition of Do Kwon to america to face prices within the Terra/Luna case. Our nation welcomes innovation and legit crypto, AI, and different tech entrepreneurs – however we have now zero tolerance for fraud. “This extradition displays our unwavering dedication to worldwide justice and the rule of legislation!” Prime Minister Said,
Kwon was arrested by the Montenegrin police in 2023, whereas the Terraform Labs founder was on the run in 2022 following the collapse of TerraUSD and Luna.
Greater than $40 billion value of worth was destroyed within the collapse, impacting many different crypto initiatives and inflicting tens of millions of customers to lose cash.
After failing to keep away from extradition, Kwon now faces fraud and different prices within the US.
In April 2024, Terraform and Kwon agreed to a $4.5 billion settlement With the Securities and Trade Fee.
