Montenegro PM says extradition process for Do Kwon to U.S. completed

PANews reported on December 31 that according to Bloomberg, Montenegro Prime Minister Milojko Spajic said on Tuesday that Montenegro had completed the extradition procedures for Terraform Labs co-founder Do Kwon to the United States. Spajic posted on the X platform: "This extradition demonstrates our unwavering commitment to international justice and the rule of law."

Do Kwon faces prosecution in New York and Seoul over the 2022 collapse of the $40 billion TerraUSD stablecoin. Last year, he was arrested in Montenegro for traveling on a forged passport. In April, Terraform and its founder Do Kwon were found guilty of fraud following a civil trial on charges brought by the U.S. Securities and Exchange Commission (SEC). Terraform has agreed to pay $4.5 billion to settle with the U.S. Securities and Exchange Commission.