Official court records or announcements from the U.S. Department of Justice

Montenegro Extradites Terraform Labs' Do Kwon to U.S. Over $40B Crypto Collapse

Dec 27, 2024, 02:39 PM

Montenegro's Justice Minister has signed an order to extradite Do Kwon, the co-founder of Terraform Labs, to the United States. This decision follows the rejection of Kwon's appeal by a Montenegro court to cancel his extradition. Kwon, who was arrested on March 23, 2023, for using fake documents, faces multiple fraud charges related to the collapse of his cryptocurrency venture, Terraform Labs, which led to a $40 billion loss. The extradition decision was made despite South Korea's interest in prosecuting Kwon for similar charges, but Montenegro opted to send him to the U.S.