The most recent information on the matter is that Montenegro plans to extradite Terraform Labs founder Do Kwon to the USA.

Native information retailers reported on December 27 that the event follows the approval of Do Kwon's extradition by Montenegro's Minister of Justice Bojan Bojovic. Bojovic signed off on the extradition of Terraform Lab's founders to the USA, a day after Montenegro's Constitutional Courtroom rejected Do Kwon's constitutional enchantment.

Do Kwon's enchantment canceled

The court docket's determination leaves the choice on whether or not the Terraform Labs founder will probably be extradited to South Korea or the USA within the fingers of the nation's justice minister.

Kwon argued in his enchantment that the extradition course of was unfair and misinterpreted the legislation. Nevertheless, this problem had no influence on the Constitutional Courtroom, and the choice to dismiss the enchantment opened the ultimate chapter of his extradition.

South Korea's Kwon has been below investigation by U.S. and South Korean legislation enforcement for the reason that collapse of TerraUSD and Luna. The cryptocurrency challenge collapsed in Could 2022, wiping over $40 billion in worth from the cryptocurrency market. The following epidemic has engulfed a number of corporations, together with crypto financiers.

Kwon went into hiding and was arrested in Montenegro in March 2023, starting a prolonged extradition course of.

Terraform Labs agreed to a $4.5 billion settlement with the U.S. Securities and Trade Fee in June 2024, and its CEO mentioned it will stop working the challenge.