• Montenegro has accomplished the extradition of Do Kwon, the founding father of the collapsed cryptocurrency mission TerraUSD/Luna.
• Kwon was arrested in Montenegro in 2023 and unsuccessfully fought extradition to the USA.
• He’s additionally wished in South Korea in reference to the 2022 Tera cryptocurrency explosion value $40 billion.

Montenegro Prime Minister Milojko Spajić introduced that Montenegro has accomplished the extradition of Terraform Labs founder Do Kwon to the USA.

The extradition got here days after Montenegro's Justice Minister Bojan Bojovic signed the extradition, which got here after the nation's Constitutional Court docket rejected Do Kwon's attraction.

Montenegrin Prime Minister approves Kwon's extradition

“At the moment, Montenegro accomplished the extradition of Mr. Do Kwon to the USA to face expenses within the Terra/Luna case. Our nation welcomes innovation and legit crypto, AI, and different expertise entrepreneurs, however fraud We’ve zero tolerance for this act. This extradition demonstrates our unwavering dedication to worldwide justice and the rule of legislation,” the Prime Minister mentioned.

Montenegrin police arrested Kwon in 2023, when the Terraform Labs founder was on the run after the collapse of TerraUSD and Luna in 2022.

The collapse worn out greater than $40 billion value of worth, impacting a number of different crypto tasks and ushering in an epidemic that price hundreds of thousands of customers.

Since Mr. Kwon was unable to keep away from extradition, he’ll now face expenses together with fraud in the USA.

In April 2024, Terraform and Kwon agreed to a $4.5 billion settlement with the Securities and Alternate Fee.