3 sources·Business

Montenegro Approves Extradition of Crypto Mogul Do Kwon to the U.S.

Montenegro's Justice Ministry has approved the extradition of Do Kwon, the founder of Terraform Labs, to the U.S. over fraud allegations.

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Updated: Dec 27th, 2024, 3:23 PM ET

Summary

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Montenegro's Justice Ministry has granted the extradition of Do Kwon, founder of Terraform Labs, to the U.S. over fraud related to the collapse of cryptocurrencies TerraUSD and Luna. Charged with orchestrating a $40 billion fraud, Kwon faces serious allegations from U.S. authorities after his arrest in Montenegro while attempting to flee to Dubai. Following multiple court rulings, the justice minister affirmed that legal criteria favored the U.S. extradition request. Kwon's lawyers claim the decision violates his right to defense after previously conflicting court outcomes.

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Montenegro Approves Extradition of Crypto Mogul Do Kwon to the U.S. - Pano News