The High Court in Montenegro has green-lit the extradition of Terraform Labs co-founder, Do Kwon to the United States. This decision came after a battle between the U.S. and South Korea over Kwon’s custody. Pobjeda, a local media outlet, first reported this pivotal development.
Charges and Convictions
Kwon’s legal troubles began to unravel in March 2023 when authorities arrested him in Montenegro for using a fake passport. In June, a court there found him guilty of document forgery. Consequently, it sentenced him to a four-month prison term. Kwon contested this verdict, only to face defeat in his appeal.
Kwon, previously leading Terraform Labs, now faces fraud charges in the U.S., accused of deceiving investors. He and his firm engaged in the sale of crypto assets and securities without proper registration, raising billions.
As this legal narrative unfolds, stakeholders from around the globe watch closely. The decision to extradite Kwon to the U.S. marks a significant chapter in the ongoing scrutiny of cryptocurrency ventures.
Also Read: Do Kwon Secures Second Extradition Appeal in Montenegro
