CoFounder of Terraform Labs Do Kwon Awaits Extradition Decision in Montenegro
Do Kwon, the co-founder of Terraform Labs, is embroiled in yet another legal drama, as the extradition process nears its conclusion. Montenegro’s officials have confirmed that a ruling on his extradition will be made by Sunday, October 19. Bojan Bozovic, Montenegro’s Minister of Justice, revealed that a destination has been chosen for Kwon’s extradition, but it remains undisclosed whether he will be sent to the United States or South Korea, both of which have requested his extradition.
This week will be crucial for Do Kwon as we await the next development.
黑山将于本周末确定Do Kwon的引渡命运
黑山司法部长Bojan Božović证实，已就Terraform Labs联合创始人Do Kwon的引渡做出决定，引渡协议将于本周结束前签署。这一决定是经过了长达数月、充满争议的漫长法律程序后做出的。…
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Final Stages of the Extradition Process
On October 17, Bozovic announced that the final documentation required for Kwon’s extradition could be signed by the end of this week. However, he refrained from disclosing the country that will receive Kwon. Both South Korea and the United States have levied multiple charges of crypto fraud against Kwon, relating to the collapse of the Terra ecosystem, resulting in significant losses for investors worldwide.
Bozovic acknowledged that while the Supreme Court has deemed Kwon eligible for extradition, the decision regarding which country will assume custody of him rests with Montenegrin authorities. “It would have been easier for me if the court had made the decision,” Bozovic remarked, underscoring the complexity of the matter.
Legal Journey and International Charges
Do Kwon’s legal troubles began when Terra’s algorithmic stablecoin, TerraUSD, lost its peg to the U.S. dollar in May 2022. This development caused the crash of TerraUSD and its counterpart token, Luna, resulting in billions of dollars in losses for investors and triggering criminal investigations in multiple countries. Kwon has been charged with fraud in South Korea, the United States, and Singapore.
Following the collapse, Kwon evaded authorities for several months, reportedly hiding in Serbia. He was eventually apprehended in Montenegro in March 2023 while attempting to flee the region using counterfeit travel documents. After being convicted of forgery, Kwon served a six-month sentence in Montenegro, where he has remained in custody while the extradition process unfolds.
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Awaiting the Final Decision
Despite the Supreme Court of Montenegro ruling in September 2023 that the conditions for Kwon’s extradition were met, the decision on his extradition has faced delays. The court, however, did not specify the country to which Kwon should be sent, leaving the final determination in the hands of the Montenegrin government.
As the extradition decision draws near, both the United States and South Korea remain eager to prosecute Kwon for his role in the downfall of Terra. Overall, a resolution is anticipated in the near future, with Kwon likely to face trial soon.
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