After months of legal battles, Do Kwon, co-founder of Terraform Labs, has been handed over to US authorities by Montenegro.
The decision followed Montenegro’s Justice Minister Bojan Božović approving Kwon’s extradition to the United States instead of South Korea, where he also faces legal charges.
Montenegrin Prime Minister Milojko Spajić confirmed on December 2024 that Kwon is now in US custody and is expected to face criminal charges there.
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Prime Minister Spajić highlighted the nation’s support for legitimate technological innovation while making it clear that fraud would not be tolerated. Spajić added:
This extradition demonstrates our unwavering commitment to international justice and the rule of law!
Kwon’s case stems from the fallout of the Terra ecosystem in 2022, which had a big impact on the cryptocurrency market. Both the United States and South Korea accused Kwon and others at Terraform Labs of involvement in the collapse.
However, Kwon's whereabouts remained unknown until his arrest in Montenegro in 2023. He initially served a four-month sentence in Montenegro for using false travel documents.
For over a year, Montenegro’s courts debated whether to extradite Kwon to the United States or South Korea. Each decision faced delays as Kwon’s legal team filed multiple appeals.
For instance, the legal team challenged Kwon's extradition but was rejected by Montenegro's Constitutional Court.
As Do Kwon prepares to face justice in the US, Tornado Cash's co-founder Roman Storm recently sought the dismissal of criminal charges against him. How did it go? Read the full story.
