- Montenegro has accomplished the discharge of Do Kwon, the founding father of the collapsed TerraUSD/Luna crypto challenge.
- Kwon was arrested in Montenegro in 2023 and unsuccessfully fought extradition to the US.
- It’s also wished in South Korea for the $40 billion Terra crypto implosion in 2022.
Montenegro has accomplished the extradition of Terraform Labs founder Do Kwon to the USA, Montenegrin Prime Minister Milojko Spajić stated.
The extradition comes simply days after Montenegrin Justice Minister Bojan Božović signed off on the extradition, with the nation's Constitutional Court docket rejecting Do Kwon's enchantment.
The Prime Minister of Montenegro confirmed the extradition of Kwon
“Right this moment, Montenegro accomplished the extradition of Do Kwon to the USA to face prices within the Terra/Luna case. Our nation welcomes innovation and bonafide entrepreneurs in crypto, AI and different applied sciences – however we’ve zero tolerance for fraud. This launch demonstrates our unwavering dedication to worldwide justice and the rule of legislation! stated the Prime Minister.
Montenegrin police arrested Kwon in 2023 whereas the founding father of Terraform Labs was on the run after the collapse of TerraUSD and Luna in 2022.
The collapse triggered the destruction of over $40 billion in worth, heralding a contagion that hit a number of different crypto tasks and hundreds of thousands of customers misplaced their cash.
After failing to stave off extradition, Kwon will now face fraud and different prices within the US.
In April 2024, Terraform and Kwon agreed to a $4.5 billion settlement with the Securities and Trade Fee.
