Montenegro’s Minister of Justice signs extradition order, Do Kwon will be extradited to the United States

PANews reported on December 27 that according to a statement from the Ministry of Justice of Montenegro, Justice Minister Bojan Božović has signed a decision to extradite Terraform Labs founder Do Kwon to the United States. Previously, the Supreme Court of Montenegro ruled that the legal conditions for extradition to the United States were met. After comprehensively considering the seriousness of the case, the location of the crime, the order of extradition requests and other factors, the Ministry of Justice gave priority to approving the extradition request of the United States, while rejecting South Korea's extradition request.

Do Kwon is being investigated by US and South Korean authorities for financial scandals related to the TerraUSD and Luna crashes. This incident caused the cryptocurrency market to evaporate approximately US$40 billion in May 2022, triggering the bankruptcy of many crypto companies. Do Kwon was charged with defrauding investors and concealing assets. He was arrested in Montenegro in March 2023 for using a forged passport and sentenced to four months in prison. After serving his sentence, both the United States and South Korea submitted extradition requests. After review, the Montenegrin Ministry of Justice decided to prioritize fulfilling the U.S. extradition request.