US Bid for Do Kwon Extradition Boosted by Montenegro Court Ruling: Crypto in DC
Do Kwon outside court in Podgorica, Montenegro, on March 23.
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Montenegro’s Supreme Court overturned earlier decisions to extradite Terraform Labs Pte. co-founder Do Kwon to South Korea, boosting US efforts to try the former crypto mogul for fraud charges related to the collapse of TerraUSD stablecoin in 2022.
Kwon has been held in Montenegro following an arrest in March 2023 for traveling on a fake passport. His lawyers have fought for extradition to South Korea, which imposes weaker penalties for white-collar crimes compared with the US.