Justice Minister Bojan Božović approved the extradition of Terraform Labs founder Do Kwon to the United States.
According to local media Vijesti, the Montenegrin justice minister signed an order handing Do Kwon over to US authorities rather than his home country of South Korea.
Both governments have investigated Kwon and fought for his extradition in connection with the $60 billion Terra-Luna fiasco.
In 2022, Kwon’s Terra blockchain imploded, wiping out a flood of over-leveraged crypto companies. The avalanche of bankruptcies hit companies like Three Arrows Capital, BlockFi and even FTX.
Kwon fled as the crypto market depression deepened and Interpol issued a Red Notice warrant for his arrest.
The Terraform co-founder reportedly hid in Serbia, crossed the border into Montenegro and attempted to fly to Dubai using fake passports.
Before Kwon and Han Chang-joon, Terraform Labs’ former financial officer, could board a private plane at Podgorica airport, police in Montenegro’s capital arrested the couple.
They were detained for four months while U.S. and South Korean federal prosecutors fought in the background for extradition rights.
The decision varied between both governments as several courts in Montenegro repeatedly overruled extradition orders. Goran Rodić, Do Kwon’s lawyer in the Balkans, has also repeatedly challenged extradition orders. On December 25, the Montenegrin Constitutional Court rejected Kwon’s latest appeal.
Kwon’s company, Terraform Labs, agreed to cease operations and the largest settlement penalty in Securities and Exchange Commission history -…
