After months of authorized battles, Do Kwon, co-founder of Terraform Labs, has been handed over to US authorities by Montenegro.
The choice adopted Montenegro’s Justice Minister Bojan Božović approving Kwon’s extradition to the USA as a substitute of South Korea, the place he additionally faces authorized fees.
Montenegrin Prime Minister Milojko Spajić confirmed on December 2024 that Kwon is now in US custody and is anticipated to face legal fees there.
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Prime Minister Spajić highlighted the nation’s help for professional technological innovation whereas making it clear that fraud wouldn’t be tolerated. Spajić added:
This extradition demonstrates our unwavering dedication to worldwide justice and the rule of legislation!
Kwon’s case stems from the fallout of the Terra ecosystem in 2022, which had a big effect on the cryptocurrency market. Each the USA and South Korea accused Kwon and others at Terraform Labs of involvement within the collapse.
Nevertheless, Kwon’s whereabouts remained unknown till his arrest in Montenegro in 2023. He initially served a four-month sentence in Montenegro for utilizing false journey paperwork.
For over a 12 months, Montenegro’s courts debated whether or not to extradite Kwon to the USA or South Korea. Every choice confronted delays as Kwon’s authorized staff filed a number of appeals.
For example, the authorized staff challenged Kwon’s extradition however was rejected by Montenegro’s Constitutional Court docket.
As Do Kwon prepares to face justice within the US, Twister Money’s co-founder Roman Storm lately sought the dismissal of legal fees in opposition to him. How did it go? Learn the complete story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Conflict II period.With near a decade of expertise within the FinTech trade, Aaron understands all the largest points and struggles that crypto lovers face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and trade newcomers.Aaron is the go-to particular person for every part and something associated to digital currencies. With an enormous ardour for blockchain & Web3 schooling, Aaron strives to rework the area as we all know it, and make it extra approachable to finish rookies.Aaron has been quoted by a number of established retailers, and is a printed writer himself. Even throughout his free time, he enjoys researching the market tendencies, and in search of the subsequent supernova.
