The legal saga surrounding former crypto tycoon and Terra Luna founder Do Kwon has taken a pivotal turn as reports indicate Montenegro is poised to extradite him to the United States to face criminal charges.
Kwon’s arrest in March, initially for possessing falsified documents while attempting to leave Montenegro, has sparked discussions and debates about his potential extradition. Now, recent reports strongly suggest that this extradition is on the brink of becoming a reality.
Once a prominent figure in the digital asset industry, Do Kwon’s reputation has since been marred by controversies, notably involving the alleged manipulation of the TerraUSD stablecoin, resulting in a cascade of criminal charges. The fallout from a $40 billion crash has led prosecutors in the United States and South Korea to pursue trials against him.
Following his arrest in Montenegro in March, recent reports indicate a clearer path for his extradition to the U.S., a move anticipated by legal experts and those closely following the case.
According to a high-ranking Montenegrin justice official, speaking on the condition of anonymity, the extradition plans have been confirmed privately.
This development surfaces after Kwon’s legal team made several attempts to prevent the extradition, including appeals against a late November decision greenlighting the process.
The charges levied by the U.S. Securities and Exchange Commission (SEC) in February accuse Kwon of orchestrating a multibillion-dollar crypto asset securities fraud.
His extradition is expected to precede a trial pertaining to his alleged criminal activities during his tenure as head of Terra Luna.