The Wall Street Journal: Montenegro court seeks to extradite Terra founder Do Kwon to the United States

According to previous reports, a Montenegrin court has approved the extradition of Terra founder Do Kwon to the United States or South Korea. The Wall Street Journal cited sources familiar with the matter, stating that Montenegro's top judicial officials plan to send Do Kwon to the United States for criminal trial instead of South Korea, where Kwon is a citizen.

Summary of Do Kwon's Ten-Month Escape: The Cryptocurrency Legend Who Was Caught Later Than SBF

Do Kwon, the founder of Terraform Labs and developer of the blockchain Terra LUNA, went on the run for ten months. In May 2022, the collapse of the stablecoin UST caused turmoil in the cryptocurrency market, resulting in significant losses for businesses and investors. He was finally arrested at the end of March in the small Balkan country of Montenegro in the Balkans.

Do Kwon was sentenced to four months in prison in Montenegro for using a fake passport. Now that his sentence has been served, both the United States and South Korea have requested his extradition to face charges of fraud and securities violations.

The extradition of Kwon was approved by the Montenegro court last month, but it is up to the Minister of Justice, Andrej Milovic, to decide whether to send him to the United States or South Korea. Milovic has not yet announced his decision. According to reports by The Wall Street Journal, Milovic is unlikely to make this decision until the country's court rules on Kwon's final appeal against the court's decision.