Montenegro will extradite Terraform Labs founder Do Kwon to the USA, based on the newest information on the topic.
On December 27, native information stories mentioned the event follows Montenegrin Justice Minister Bojan BoΕΎoviΔ's approval of Do Kwon's extradition. BoΕΎoviΔ signed the extradition of Terraform Labs' founders to the USA a day after the Montenegrin Constitutional Courtroom rejected Do Kwon's constitutional criticism.
Do Kwon's enchantment was dismissed
The court docket ruling left the choice on whether or not the founding father of Terraform Labs must be extradited to South Korea or the US within the arms of the nation's justice minister.
In his enchantment, Kwon argued that the extradition course of was unfair and suffered from errors of authorized interpretation. Nevertheless, the problem was not dismissed by the Constitutional Courtroom when the choice to reject the enchantment opened the ultimate chapter for its launch.
South Korea's Kwon has been underneath investigation by each the USA and South Korean legislation enforcement because the collapse of TerraUSD and Luna. Crypto tasks collapsed in Could 2022, wiping over $40 billion from the crypto market. The contagion that adopted swallowed a number of firms, together with crypto lenders.
Kwon went into hiding and his arrest in March 2023 in Montenegro began a prolonged extradition course of.
Terraform Labs agreed to a $4.5 billion settlement with the US Securities and Change Fee in June 2024, with the CEO noting that the venture was winding down.
